WASHINGTON-Novatel Wireless said it has filed with the U.S. Securities and Exchange Commission to sell 4 million common shares to pursue goals such as research and development, potential acquisitions and other corporate purposes.
The company also wants to add another offer of 3.5 million shares to make it a total of 7.5 million shares. More than 27.4 million shares will be outstanding after the offering, according to Novatel’s offering document.
Banc of America Securities L.L.C. and JP Morgan, which led the underwriters, could exercise the option to buy 1.1 million more shares.