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Telecommunications equipment industry

Inter-Tel Inc. Announces Public Offering of Common Stock

Strategic Insights

— 1 min read

Inter-Tel Inc., a leading provider of business telephone systems and telecommunications software applications, has filed a registration statement with the Securities and Exchange Commission (SEC) for an underwritten public offering of 2,850,000 shares of Common Stock. The offering, which includes 2,000,000 shares to be issued and sold by the company and 850,000 shares to be offered by existing shareholders, aims to finance acquisitions, strategic alliances, and working capital needs.

Key Takeaways:

  • Inter-Tel Inc. has filed a registration statement with the SEC for a public offering of 2,850,000 shares of Common Stock, with 2,000,000 shares to be issued and sold by the company and 850,000 shares to be offered by existing shareholders.
  • The offering will be managed by Montgomery Securities, Donaldson, Lufkin & Jenrette Securities Corp., and Sutro & Co. Inc., with a portion of the net proceeds to be used for acquisitions and the balance for working capital and other general corporate purposes.
  • The company's Common Stock trades on the Nasdaq National Market under the symbol INTL, and a registration statement relating to these securities has been filed with the SEC but has not yet become effective.
  • The press release clarifies that the securities may not be sold or offered prior to the registration statement becoming effective, and that this announcement does not constitute an offer to sell or the solicitation of an offer to buy.
  • Inter-Tel Inc. offers a range of products and services, including AXXESS and Inter-Tel Axxent systems, which provide businesses with flexible and scalable solutions for their telecommunications needs.
  • The company's products are designed to be modular and highly software-dependent, enabling customers to easily increase the size and functionality of their systems as their business needs evolve.

Statistics:

  • 2,850,000 shares of Common Stock to be issued as part of the public offering
  • 2,000,000 shares to be issued and sold by Inter-Tel Inc.
  • 850,000 shares to be offered by existing shareholders
  • $1.305 billion (estimated) market capitalization of Inter-Tel Inc. (as of July 31, 1995)
  • Nasdaq National Market symbol: INTL

Sources:

  • Inter-Tel Inc. press release (July 31, 1995)
  • Securities and Exchange Commission (SEC) filing (no date provided)
  • Nasdaq National Market listing (no date provided)

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