WASHINGTON-iPCS Inc., an exclusive Sprint PCS Group affiliate for 35 markets in the midwestern United States, filed for an initial public stock offering with the Securities and Exchange Commission.
The company is looking to raise more than $143 million in its IPO of common stock, which it hopes to list on Nasdaq under the symbol “IPCS,” according to a prospectus filed with the SEC.
iPCS plans to use the net proceeds, along with available borrowings under increased financing from Nortel Networks Corp., for capital expenditures, operating losses, working capital and general corporate purposes.
The filing did not say how many shares are being offered or their price range, but the underwriters were listed as Donaldson Lufkin & Jenrette; Robinson-Humphrey Co.; and DLJdirect.
