Sonus Networks, inc. Announces Initial Public Offering
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Beth Morrissey Sonus Networks 978-692-8999 x2379 bmorrissey@sonusnet.com |
Steve Nill Sonus Networks 978-692-8999 x2777 snill@sonusnet.com |
WESTFORD, Mass., May 25, 2000 – Sonus Networks, Inc. today announced the initial public offering of 5,000,000 shares of its common stock on the Nasdaq National Market under the symbol "SONS".
The initial public offering price was $23.00. All of the shares were offered by Sonus Networks, Inc. The company also granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock to cover over-allotments. The company anticipates using net proceeds from the offering for general corporate purposes, including the funding of operations, the expansion of sales, marketing and product development activities, working capital and capital expenditures.
The offering was led by Goldman, Sachs & Co., and co-managed by Lehman Brothers, J.P. Morgan & Co. and Robertson Stephens. A copy of the final prospectus may be obtained from the offices of Goldman, Sachs & Co., 85 Broad Street, 14th Floor, New York, NY 10004.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Sonus Networks
Sonus Networks, Inc. (Nasdaq: SONS) is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture (OSA) and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams. Its highly scalable products fully interoperate with and extend the life and utility of today’s public network. Sonus embodies in its management and staff decades of experience in developing carrier-class solutions at companies such as Cisco Systems, Lucent Technologies, and Nortel Networks. Sonus, founded in 1997, is headquartered in Westford, Massachusetts.
Open Services Architecture is a trademark of Sonus Networks. All other company and product names may be trademarks of the respective companies with which they are associated.
