NEW YORK-SCC Communications Corp., a Boulder, Colo., provider of emergency call services to wireline and wireless carriers, has registered with the Securities and Exchange Commission its intention to go public.
According to its document, filed April 9, SCC plans to offer 3.3 million shares of common stock in a price range between $13 and $15 each.
BancAmerica Robertson Stephens and Hambrecht & Quist, both based in San Francisco, are listed as underwriters for the initial public offering.
As of the filing date, the only specific plans SCC said it has for the proceeds is to use $4.61 million to pay back a bank loan that has an interest rate of 11 percent. Some $610,000 of this amount is a prepayment penalty, SCC said in its preliminary prospectus on file with the SEC.
“The primary purposes of the offering are to create a public market for the company’s stock, to facilitate future access to the public equity markets and to obtain additional equity capital,” SCC said.
After the IPO is completed, SCC’s board members and executive officers and their families and “affiliated entities” will retain control of 52.7 percent of the company.
The planned 3.3 million share common stock sale comprises 2.1 million shares to be offered by the company and 1.2 million by insiders. After the IPO transaction closes, there will be 10.44 million outstanding shares of SCC stock, including 6.38 million shares to be issued upon conversion of convertible preferred stock, SCC said.
SCC’s National Data Services Center manages the information that enables 911 calls to be routed to the appropriate public-safety agency along with “accurate and timely information about the caller’s identity and location,” the company said. The center manages more than 70 million subscriber data records throughout North America.
SCC’s customers include: AT&T Wireless Services Inc., Bell Canada, Nextel Communications Inc., 3607 Communications Co., Sprint Spectrum L.P. and Vanguard Cellular Systems Inc.
