Syniverse Technologies offers some details on its
planned initial public offering, while Seven announces plans to withdraw its
IPO, at least in the near-term.
Syniverse Technologies hopes to raise as much as $425.5
million from its planned IPO, according to a preliminary registration statement
filed with the U.S. Securities and Exchange Commission. The company, which
handles the logistics of number-switching requests for the lion's share of the
major U.S. wireless carriers, has not yet outlined how many shares it plans to
offer or at what price.
Earlier this month, Syniverse reported total revenue for the third quarter of
$82.5 million and a net loss of $1 million.
Less than a year after registering for its IPO, Seven has
put on the breaks, at least for now. The wireless communications software
company first filed for the IPO in March 2004 and was expecting to sell up to
$115 million in common stock. Seven provided no details as the why it decided to
shelve the offering. UBS Investment Bank was acting as lead manager for the
offering.
Separately, the company announced the completion of a Series C funding round.
Although terms of the latest investment round were not disclosed, the company
has raised a total of $55 million from previous Series A and Series B
rounds.