THE ART OF THE DEAL

PUBLIC STOCK OFFERINGS ARE THE NEW ROAD TO RICHES. WHERE ARE THE POTHOLES?

AFTER BARELY TWO YEARS OF EXIStence, NetEdge Systems is ready to cash in big. The fast-growing North Carolina company, which makes devices called edge routers that connect computers to high-speed voice and data networks over telephone lines, plans to launch an initial public offering (ipo) of its stock to raise some $40 million in the second half of this year. NetEdge already has more than 100 employees and revenues of about $25 million and expects to show a profit by the end of 1996. The public offering will finance the firm's expansion; it will also boost the value of the shares...

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