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Biggest Tech. Stocks Losers are TNL, EZCH, ICOG
Tech. Stocks
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Technitrol, Inc. (NYSE:TNL) is down 13.12% to $4.70 after the company announced that it has commenced and priced an offering of $50 million aggregate principal amount of 7.00% convertible senior notes, due in 2014. The notes are being offered and sold to qualified institutional buyers who are also accredited investors in a private placement. The notes will carry a conversion premium of 18%. Holders of the notes may convert each $1,000 principal amount of notes at any time into 156.6465 shares of Technitrol common stock, subject to customary anti-dilution adjustments.
EZchip Semiconductor Ltd. (NASDAQ:EZCH) decreases 7.22% to $11.70 after the company announced that it has commenced a public offering of 3,863,050 of its ordinary shares. Of such shares, 712,618 ordinary shares are being offered by the Company and 3,150,432 ordinary shares are being offered by the Selling Shareholders, which consists of funds affiliated with Goldman, Sachs & Co. and JK&B Capital. In addition, Jefferies & Company, Inc., the exclusive underwriter for the offering, will also have an option to purchase from the selling shareholders and the Company up to an additional 15% of the total offered shares to cover over-allotments, if any, within 30 days at the public offering price, less underwriting discounts and commissions.
ICO Global Communications (Holdings) Ltd (NASDAQ:ICOG) plunges 11.36% to $1.02. The stock hit an intraday high and an intraday low of $1.06 and $0.92 respectively. In the last three months the stock went up over 27%. ICO Global Communications Limited is mobile satellite service (MSS) operator. The Company is authorized to offer MSS services throughout the
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