UPDATE 1-Intellon sees IPO of 7.5 mln shares at $9-$11 each

Tue Nov 27, 2007 12:54pm EST
 
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Nov 27 (Reuters) - Intellon Corp on Tuesday registered its initial public offering of 7.5 million shares at an estimated price of $9 to $11 per share.

In an amended filing with the U.S Securities and Exchange Commission, the semiconductor company said Deutsche Bank Securities, Jefferies & Co, Piper Jaffray and Oppenheimer & Co were underwriting the IPO.

The underwriters have the option to buy up to 1.1 million shares to cover over allotments.

The company plans to use net proceeds from this offering for working capital, capital expenditures and other general corporate purposes.

Assuming 29.9 million shares outstanding after this offering and the mid-point of the estimated price range, Intellon would have an initial market capitalization of $299.5 million.

For the year ended 2006, the company posted a revenue of $33.7 million on net loss of $7.8 million compared with revenue of $16.6 million on net loss of 12.5 million in 2005. The Ocala, Florida-based company said it applied for a Nasdaq listing under the symbol "ITLN." (Reporting by Shivani Singh in Bangalore; Editing by Anil D'Silva)