ACT Networks Proposes to Sell 2.2 Million Shares

ACT Networks Inc., a Camarillo producer of computer network access products, is going public.

The company has filed a registration statement with the Securities and Exchange Commission regarding a proposed initial public offering of 2.2 million common shares.

At an expected offering price of between $9 and $11 per share, ACT hopes to raise about $20 million. The proceeds will be used to repay debts, fund operations and, possibly, help pay for acquisitions, the company said.

ACT’s products are used in a broad range of end-user network applications. The equipment, which is marketed worldwide, helps carry voice and data transmissions over wire as well as wireless systems.

Of the shares to be marketed, 200,000 will be offered by current principals of the firm. The underwriting is being managed by Hambrecht & Quist Inc. of San Francisco and New York, and Wessels, Arnold & Henderson of Minneapolis.

ACT officials did not say when they expect the offering to reach the market.