Reuters' Tibco Software unit plans to offer $4 million worth of its common stock to Yahoo and 500,000 shares to Sun as part of its initial public offering (IPO), planned for 14 July.
In a Securities and Exchange Commission (SEC) filing, the push technology supplier said the move is intended to enhance its strategic relationship with the two suppliers, which have both said they intend to buy the shares, although they are not obliged to.
The sale will be made at the IPO price as a non underwritten transaction. Tibco plans to issue 7.3 common shares that are likely to be priced at between $9-11 and the trade will be underwritten by Goldman Sachs, Bear Stearns and Deutsche Banc Alex Brown.
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