MB Communications Completes Initial Offering

MB Communications Inc., the parent of Micom Communications Corp. in Simi Valley, has successfully completed its initial public offering with the sale of 2.5 million common shares priced at $13.50 a share.

The stock drew a relatively warm reception on Wall Street; the company had expected the stock to be priced between $11 and $13 a share.

Micom makes devices that link computers, fax machines and other equipment so they can share data. MB’s other main business is Black Box Corp., a leading marketer of computer gear by mail. Both MB and Black Box are based in Lawrence, Pa.

MB plans to use the sale’s proceeds to further pare its debt, which was largely incurred when the company was purchased in a leveraged buyout in 1988. MB’s long-term debt as of Sept. 30 was $123 million.

The stock sold to the public represents about 16% of MB’s total common shares, assuming the conversion of certain warrants that also are outstanding.