Qualcomm Inc. placed 6.9 million shares of its common stock in a public offering at $156.50 per share for total net proceeds of about $1.1 billion.
Conductus Inc. said its common stock will remain listed on the Nasdaq SmallCap Market thanks to an exception freeing it from Nasdaq’s net tangible assets requirement. Conductus failed to meet that requirement after the first quarter of 1999, but has been granted a temporary exception through the second quarter. The exception requires Conductus to report net tangible assets of at least $3.5 million when it files its second-quarter earnings report for the period ending June 30. The company said its recent deal with General Dynamics Information Systems, valued at $5 million, will enable it to meet this stipulation.
The European Commission approved plans by AT&T Corp. and British Telecommunications plc to take a combined 30-percent stake in Japan Telecom Co.
The ABC Group Inc. said it is expanding the market presence of its wireless communications stores through franchising under the “Keep in Touch Stuff” name. Keep In Touch Stuff franchisees will get support from The ABC Group, including site selection assistance, purchasing guidance, comprehensive training and ongoing sharing of knowledge, advertising support and specialized software. Initial franchise expansion will be limited to the East Coast.
Duke Realty Investments Inc., a commercial real estate investment trust in the Midwest, selected Apex Site Management Inc. as its exclusive rooftop telecommunications site manager. According to the agreement, Apex will market available space, negotiate license agreements and oversee installations, billing, collection and technical site maintenance.
