Comverge Launches Initial Public Offering
Comverge Inc. (East Hanover, New Jersey, U.S.), a provider of clean energy solutions, has filed with the Securities Exchange Commission for an initial public offering.
Comverge plans to sell about 4.7 million shares of common stock, or 28% of the company, for US$15 to $17 per share to raise about $75 million with underwriters CitiGroup Global Markets Inc. and Cowen and Co. Comverge reported a net loss of $6.2 million on revenue of $34 million in 2006, compared to a net loss of $8 million on revenue of $23 million in 2005.
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