ACT Stock Offering Grosses $35 Million
Compiled by Jack Searles
ACT Networks Inc. of Camarillo grossed $35 million in its initial public stock offering earlier this month. Net earnings were not yet available.
On May 3, the company offered 2.7 million shares to investors on the Nasdaq market at $13 a share. That day, the stock peaked at $18.25, then settled at $16.75 two days later. The following week, the stock slipped a bit more, closing at $15.75 May 9.
ACT produces systems that integrate voice, fax, data and local-area computer networks into wide-area networks.
