dcsimg
RealTime IT News

USWeb Announces Follow-On Stock Offering

USWeb Corporation, an Internet consulting firm, announced a follow-on stock offering of 5,000,000 shares of its common stock.

USWeb registered with the Securities and Exchange Commission its intent to sell 1 million shares and certain stockholders of the company will sell 4,000,000.

The managing underwriters are Hambrecht & Quist, LCC; Donaldson, Lufkin & Jenrette, Wessels, Arnold & Henderson, LCC; and First Albany Corporation.

USWeb reports that an additional 750,000 shares will be available for purchase by the underwriters to cover any over allotments.

The professional services company projects it will use the proceeds from the stock sale for general purposes.