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METAWAVE FILES FOR IPO; 5M SHARES

REDMOND, Wash.-Metawave Communications Corp. filed paperwork with the Securities and Exchange Commission for a proposed initial public offering of 5 million shares of common stock, expected to sell in the range of $9.50 to $11.50, the company said.

BT Alex. Brown, Merrill Lynch & Co. and NationsBanc Montgomery Securities L.L.C. are the managing underwriters of the offering.

Metawave has applied for the moniker MTWV for trading on the Nasdaq National Market. Metawave designs and manufactures spectrum management solutions for the wireless communications industry.

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