Power-One Files Registration Statement for IPO of 6.5 Million Shares

August 11, 1999 by Jeff Shepard

Power-One Inc. (Camarillo, CA) recently announced it had filed a registration statement with the US Securities and Exchange Commission for an underwritten public offering of 6.5 million shares of its common stock. Of the shares, 4 million are being sold by the company and 2.5 million by existing stockholders. The company plans to use proceeds to repay approximately $45.7 million of debt and for general corporate purposes. The managing underwriters for the offering are Stephens Inc., BancBoston Robertson Stephens and Thomas Weisel Partners LLC.