NEW YORK-SCC Commu-nications 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, SCC plans to offer 3.3 million shares of common stock in a price range between $13 and $15 per share.
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 11-percent interest rate. 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, their families and affiliated entities will control 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, 10.44 million shares of SCC stock will be outstanding, including 6.38 million to be issued upon conversion of convertible preferred stock, SCC said.
SCC’s National Data Services Center manages the information that enables the routing of 911 calls to the appropriate public-safety agency along with caller identity and location, the company said. The center manages more than 70 million subscriber data records throughout North America.
