Very long instruction word minisupercomputer builder Multiflow Computers Inc of Branford, Connecticut plans to go public without the expense of an initial public offering by reversing into a firm that already has a quote for its shares. The company it has chosen is Billerica, Massachusetts maker of CAD/CAM graphics displays, Adage Inc. Adage will make […]
Very long instruction word minisupercomputer builder Multiflow Computers Inc of Branford, Connecticut plans to go public without the expense of an initial public offering by reversing into a firm that already has a quote for its shares. The company it has chosen is Billerica, Massachusetts maker of CAD/CAM graphics displays, Adage Inc. Adage will make a one-for-four exchange of shares with Multiflow that will leave its own shareholders with 40% of the enlarged company, which will be renamed Multiflow. The deal needs agreement from both sets of shareholders. Adage had net of $6.4m on sales of $15.5m for the nine months to December 31. Multiflow did not give figures.
