EarthLink Network Announces IPO: The Pasadena-based Internet access provider filed to sell 23.12% of its common stock. The company plans to sell 3.6 million common shares at $10 to $12 each, according to an S-1 registration statement filed with the Securities and Exchange Commission. EarthLink Network Inc. expects the IPO to raise about $36.2 million after expenses if the stock sells for $11 a share. EarthLink would use the IPO proceeds to finance enhancements to its network infrastructure and to introduce new products and services. UBS Securities will underwrite the stock sale for EarthLink, which plans to have its shares trade on Nasdaq.
Times Staff and Wire Reports
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