HACKENSACK, N.J.-GoAmerica Communications Corp. this week filed for an initial public offering with the Securities and Exchange Commission, and appointed wireless data industry analyst Andrew Seybold to its board of directors.
Seybold is senior partner of the Andrew Seybold Group L.L.C. and editor of its monthly newsletter, Andrew Seybold’s Outlook. He founded the Wireless Data University and is co-founder and board member of the Portable Computer and Communications Association.
The company did not reveal how much stock will be offered through the IPO, nor the amount it hopes to raise. It has proposed the ticker symbol GOAM. GoAmerica did say it executed a stock purchase agreement with current investors under which it will issue ans sell 648,057 shares of series B preferred stock for about $25.2 million. Each share of series B stock will then convert to one share of common stock once the IPO has commenced.
In the filing, GoAmerica revealed a net loss of $6.2 million for the nine months ended Sept. 30, on revenues of $664,000.
