Infrastructure services provider Goodman Networks has filed a prospectus with the US securities and exchange commission to signal its intention to raise up to US$100m through an initial public offering.
Texas-based Goodman has mandated BofA Merrill…
Infrastructure services provider Goodman Networks has filed a prospectus with the US securities and exchange commission to signal its intention to raise up to US$100m through an initial public offering.
Texas-based Goodman has mandated BofA Merrill Lynch and Jefferies to manage the flotation.
Last year the company generated revenues of US$932m, recorded a net loss of US$43m, and disclosed US$330m in long-term debt.
Goodman said it has yet to decide how many shares it will offer and the price range for the proposed offering. It will use the bulk of the proceeds from the offering to redeem US$100m notes it issued to fund the acquisition of Multiband last summer, which provides installation services to satellite and cable providers.
Family-owned Goodman constructs, maintains, upgrades and decommissions wireless networks across the US. It serves companies such as AT&T, Alcatel-Lucent, Sprint, DirecTV, NSN, T-Mobile US and Verizon Wireless.
In addition to being a client, Alcatel-Lucent also owns a 5.2% stake in Goodman, which plans to list on the Nasdaq under the symbol GNET.
