Virgin Mobile Prices IPO; Net Proceeds Excpected To Hit $375.6 Million
By Joseph Weisenthal - Tue 25 Sep 2007 08:13 AM PST
In a filing with the SEC, Virgin Mobile (NYSE: VM) detailed the terms of its coming IPO, announced that it plans to sell 25.6 million shares at a price between $15-$17, netting the company $375.6 million after underwriting expenses. This is slightly above the company’s previous estimate of $332.6 million back in July. As previously stated, most of this money will be distributed to co-owner Sprint (NYSE: S) Nextel, as a loan repayment and as payment for the company’s stake. Filing.
