Technology Industry
Industry: Email Alert RSS FeedGlobal Signal returns to public market with IPO.(News)
RCR Wireless News, June, 2004
Byline: EMILY MOTSAY Wireless tower owner Global Signal Inc., formerly known as Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading Thursday, and the IPO is expected to close tomorrow.
The stock was trading at $20.23 per share, up about 12 percent from its opening, at press time. The IPO's underwriters, represented by Morgan Stanley, Banc of America Securities L.L.C., Lehman Brothers and Raymond James, were also granted an option to purchase up to 1.05 million shares total to cover any over-allotments. Sarasota, Fla.-based Global Signal, which changed its name from Pinnacle early this...
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