VeriChip IPO Might Happen Soon

[update::2007.02.11] VeriChip Corp. went public on 9 February 2007. The IPO price was $6.50 per share. 3.1 shares were sold; however, the reported trading volume was 2.19 million shares. In a nutshell, the CHIP offering received a "lukewarm reception."

VeriChip Corp., a unit of Applied Digital Solutions Inc., is planning to "offer 4.3 million shares priced between $6.50 to $8.50 in its upcoming initial public offering." VeriChip will trade on the Nasdaq Global Market under the ticker "CHIP."

The VeriChip press release stated: "At $7.50 each -- the midpoint of its predicted range -- that would yield proceeds of roughly $26.9 million, after deducting underwriting discounts and commissions."

Note: The CHIP over-allotment is set at 645,000 shares.

Exercises
  1. 4.3 million written as an integer is _______________.

  2. Another word for "midpoint" is _____________.

  3. VeriChip's "underwriting discounts and commissions" will approximate $_______________________.


Creator: Gerald D. Thurman [gthurman@gmail.com]
Created: 22 January 2007

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