Wireless Telecom Provider Goodman Networks Files For $100M IPO


Wireless telecommunication services provider Goodman Networks Inc filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock.

BofA Merrill Lynch and Jefferies are the lead underwriters for the offering, the company told the U.S. Securities and Exchange Commission in a preliminary prospectus.

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Founded in 2000, Goodman Networks' most prominent clients include AT&T Inc, Alcatel-Lucent USA Inc, DIRECTV, Nokia Solutions and Networks BV, and Verizon Wireless.

The company said it intended to list on the Nasdaq under the symbol "GNET."

The filing did not reveal how many shares Goodman Networks planned to sell or their expected price. (http://r.reuters.com/cyx48v)

The Plano, Texas-based company said it would use the proceeds from the offering to redeem principal notes and for general corporate purposes.

Alcatel-Lucent USA Inc holds about a 5 percent stake in the company. Co-founder and Executive Chairman John Goodman holds about a 44 percent stake.

Revenue jumped about 53 percent to $931.75 million, but the company's net loss widened to $43.24 million for the year ended December 31, from $2.53 million, a year earlier.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Avik Das in Bangalore; Editing by Simon Jennings)