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O2Wireless IPO edges up
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August 16, 2000: 4:59 p.m. ET
Wireless company gains 11%; PeoplePC slides, Viasource cuts range
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NEW YORK (CNNfn) - Network services provider O2Wireless Solutions Inc. managed to produce a respectable premium Wednesday, climbing 11 percent, while the day's other initial public offering, from PeoplePC Inc., wasn't as lucky.
O2Wireless Solutions gained 1-3/8 to close at 13-3/8 after raising $73.2 million. O2Wireless sold 6.1 million shares at $12 each, the bottom of its expected $12 to $14 range, through lead managers Chase H&Q.
Atlanta-based O2Wireless Solutions (OTWO: Research, Estimates) provides networking services, such as design and deployment of networks, for wireless network clients in the telecommunications industry. Customers include Nortel Networks Corp. (NT: Research, Estimates), Sprint PCS (PCS: Research, Estimates) and Carolina PCS.
No power to the PeoplePC
Personal computer company PeoplePC Inc. fell 1-1/8 to 8-7/8.
The company raised $85 million Tuesday after selling 8.5 million shares at $10 each, also through Chase H&Q. PeoplePC priced at the lower end of its $10 to $12 range, down from the originally filed 11.5 million shares at $12 to $14. PeoplePC (PEOP: Research, Estimates) was expected to list last week but decided to wait until this week.
Also led by Chase H&Q, the San Francisco-based firm offers cheap personal computers as a way to attract new Internet users. Customers sign a three-year contract and can pay as little as $24.95 a month in a membership agreement.
In 1999, the company had revenue of more than $4 million, but lost more than $64 million. Major investors include Ford Motor Co. (F: Research, Estimates) and Japan's Softbank Corp.
Broadband company Viasource Communications, which was expected to price Wednesday, cut its expected range drastically and is now expected to raise $99 million instead of $168 million.
Viasource will price 11 million shares between $8 and $10, rather than between $14 and $16. The Ft. Lauderdale, Fla.-based company will trade under the symbol "VVVV."
Viasource installs and maintains broadband systems, including coaxial cable, satellite, fiber-optic and DSL networks. 
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