Discount internet service provider Erol’s Internet Inc has filed with the Securities and Exchange Commission to publicly offer 2.9 million shares at $11 to $13 each, raising up to $37.9m. Roughly 525,000 shares will be offered by both the chairman and chief executive combined. The company claims 270,000 subscribers, up 101% from last year, and […]
Discount internet service provider Erol’s Internet Inc has filed with the Securities and Exchange Commission to publicly offer 2.9 million shares at $11 to $13 each, raising up to $37.9m. Roughly 525,000 shares will be offered by both the chairman and chief executive combined. The company claims 270,000 subscribers, up 101% from last year, and says it has lost $16.4m in the first three quarters of this year on revenue of $24.4m.
