InPhonic Inc., which sells wireless services and devices online, plans to raise as much as $100 million in an initial public offering, according to a filing with the U.S. Securities and Exchange Commission. InPhonic did not disclose how many shares it plans to sell or at what price, but said it will use proceeds to repay $6.7 million in debt, to pay $4.6 million of dividends on its preferred stock and for general corporate purposes. The company applied to list its common stock under the symbol INPC.
Sprint PCS affiliate US Unwired Inc. said it has priced an offering of $360 million aggregate principal amount of senior secured notes, consisting of $125 million of first-priority, senior-secured, floating-rate notes due in 2010 and $235 million of 10-percent second-priority, senior-secured notes due 2012. The carrier noted the 2010 notes will bear interest at a rate equal to three-month LIBOR plus 425 basis points and are being offered to investors at a price of 100 percent of principal amount, while the 2012 notes are being offered to investors at a price of 99.326 percent of principal amount.
Wireless technology vendor InterDigital Communications Corp. announced it plans to repurchase up to 1 million shares of the company’s outstanding common stock. The company said it plans to buy back the shares from time to time through open-market purchases or prearranged plans, and the amount and timing of purchases will vary due to market factors. InterDigital also said it will redeem all of its $2.50 cumulative convertible preferred stock outstanding as of June 15.
Aptilo Networks has merged with Birdstep Technology’s IP Zone division in an effort to further its position as a public wireless local area network software company. The combined company, reportedly valued at $35 million, will serve the enterprise, public hot-spot and general broadband markets in Europe, the Americas and Asia. Following the close of the transaction, likely to occur in July, the merged company will operate as Aptilo, with Birdstep serving as a major shareholder.
