Intervideo Sets IPO Terms26 Apr, 2002 By: Hive News
Underwriters for DVD maker Intervideo Inc.'s initial public offering set terms of the offering at 3.5 million shares priced between $12 and $14 a share.
The company filed January11 to offer up to $51.8 million in common stock.
In an amended registration statement filed today with the Securities and Exchange Commission, Intervideo said its offering includes 525,000 shares to cover the underwriters' overallotment option.
The company plans to use proceeds from the offering, which UBS Warburg and CIBC World Markets are underwriting, for general corporate purposes, including working capital; marketing, research and development; and capital expenditures. The company might also use proceeds to acquire or invest in complementary businesses or products or to obtain the right to use complementary technologies.
Just two weeks ago, Intervideo announced a deal with SRS Labs to integrate SRS Labs'
virtual surround sound TruSurround XT into its software products.
TruSurround XT from SRS Labs facilitates delivering a 5.1 surround sound experience over standard, two-speaker playback systems or headphones. InterVideo intends to release software with integrated SRS technology later this year.
“InterVideo's [computer-based] WinDVD has established itself as a leading DVD player partially because of its outstanding picture quality,” said CEO and cofounder Steve Ro. “By integrating SRS audio technology, InterVideo will be able to offer consumers a broad range of rich audio possibilities that will add to the enjoyment of watching movies.''
The company has applied to have its common stock approved for quotation on the Nasdaq National Market under the symbol IVDO.
InterVideo provides DVD software and offers a suite of DVD authoring software.