REDWOOD CITY, Calif. (June 10, 1999)
Phone.com, Inc. today announced that its initial public offering of 4,000,000 shares of common stock has been priced at $16 per share. The shares are expected to begin trading on the Nasdaq National Market under the ticker symbol PHCM on June 11, 1999. The shares are being offered to the public through an underwriting group managed by Credit Suisse First Boston Corporation and co-managed by Hambrecht & Quist LLC, BancBoston Robertson Stephens, Inc. and U.S. Bancorp Piper Jaffray Inc. In addition, the company has granted the underwriters an option to purchase up to 600,000 shares of common stock to cover over-allotments, if any.
Phone.com is a leading provider of software that enables the delivery of Internet- based services to mass-market wireless telephones. Using Phone.com™ software, network operators can provide Internet-based services to their wireless subscribers, and wireless telephone manufacturers can turn their mass-market wireless telephones into mobile Internet appliances. Wireless subscribers thus have access to Internet- and corporate intranet-based services, including email, news, stocks, weather, travel and sports. In addition, subscribers have access via their wireless telephones to network operators' intranet-based telephony services, which may include over-the-air activation, call management, billing history information, pricing plan subscription and voice message management. The Phone.com software platform consists of the UP.Link™ Server Suite, which is installed on network operators' systems, and UP.Browser,™ which is embedded in wireless telephones.
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