REDWOOD CITY, Calif.-Phone.com Inc. announced last Tuesday the public offering of 6.6 million shares of common stock at $135 per share in conjunction with a two-for-one stock split.
As a result of the announcement, the price of the company’s shares closed at $135.06 last Wednesday, down from $143.31 the day before.
Of the 6.6 million shares offered, 2.2 million are being offered by the company and 4.4 million are being offered by selling stockholders. In addition, the company and certain selling stockholders have granted underwriters of the public offering a 30-day option to purchase up to 990,000 additional shares to cover over-allotments, if any.
Phone.com also announced Taiwan Cellular Corp., Taiwan’s second-largest Global System for Mobile communications carrier, and Telefonica Moviles of Spain, have commercially licensed Phone.com’s UP.Link Server Suite and Wireless Application Protocol gateway.
TCC, formerly known as Pacific Cellular Corp., will become the first carrier to offer wireless Internet services throughout Taiwan, the company said.
The operators’ WAP services will be accessible through mobile phones equipped with Phone.com’s UP.Browser microbrowser. Customers will be able to access Internet-based information, such as traffic reports, news and stock quotes, as well as e-mail, visual voice mail and a personal organizer, among other services, Phone.com said.
“Phone.com software delivers a WAP-compatible platform, which provides flexibility and interoperability with WAP browser-enabled handsets,” said Miguel Menchen, director of services development at Telefonica Moviles. “As we deploy WAP-microbrowser-enabled handsets, we expect to see a tremendous growth in services and use of the network.”
