Friday, October 4, 2013

Gigamon Files for Follow-On Offering

Gigamon, which supplies network traffic visibility solutions, filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of shares of its common stock.

Gigamon is proposing to offer 300,000 shares and certain selling stockholders are proposing to offer 4,800,000 shares.  In addition, certain of the selling stockholders are expected to grant the underwriters a 30-day option to purchase up to 765,000 additional shares of common stock from them.

Gigamon will not receive any of the proceeds from the sale of the shares that are proposed to be sold by the selling stockholders.

Goldman, Sachs & Co., BofA Merrill Lynch and Credit Suisse are acting as lead joint book-running managers for the offering and Raymond James,

Pacific Crest and William Blair are acting as co-managers for the offering.

Frontier Announces CWA Labor Agreement

Frontier Communications confirmed that members of the Communications Workers of America (CWA) in five Midwest states ratified a new labor agreement.

The contract, finalized Sept. 24 after almost seven months of negotiations, affects more than 1,100 employees, including 574 employees in Ohio. The new contract also covers employees in Indiana, Wisconsin, Illinois and Michigan. The ratified contract expires in February 2017.

"Facing an increasingly competitive business environment, the CWA and Frontier worked together to reach a contract that was satisfactory to both parties,” Davidson said. “Both sides recognized that we are in this together, and the ratification is a ‘win-win' outcome for employees, customers and the company’s future."