NEW YORK-o2wireless Solutions Inc., Atlanta, a provider of outsourced services to telecommunications operators, sold its initial public offering Aug. 16 of 6.1 million shares, priced at $12 each, the low end of the expected range.
Chase Bank Hambrecht & Quist was lead manager of the IPO. Much of the equity raised will repay a bank credit agreement and other loans and redeem outstanding notes and preferred stock.
o2Wireless offers outsourced services to carriers that include business planning and design and network deployment and maintenance. The company said it can “integrate services across the wireless and wireline industry segments.”
Its proprietary offerings include Virtual Project Manager, a Web-based project management tool, and E-Site, a project tracking software.
