HERNDON, Va. - Transaction Network Services Inc. has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 1.8 million shares of common stock.
Of the total, one million shares will be offered by the company and 800,000 shares will be offered by selling stockholders. Hambrecht & Quist LLC, Montgomery Securities Inc., and Wheat First Butcher Singer will comanage the underwriting group.
Net proceeds from the offering will be used for the expansion of the TNS network, working capital, and general corporate purposes.
A copy of the prospectus relating to the offering may be obtained from Hambrecht & Quist, One Bush St., San Francisco, Calif. 94104; Montgomery Securities, 600 Montgomery St., San Francisco, Calif. 94111; or Wheat First Butcher Singer, Riverfront Plaza, 901 East Byrd St., Richmond, Va. 23219.
TNS provides telecommunications services for transaction-oriented applications. The company is listed on Nasdaq under the symbol TNSI.