Avaya Files For $1 Billion IPO!

Avaya Files For $1 Billion IPO! http://snapvoip.blogspot.com/
Avaya, the Basking Ridge, N.J.-based provider of VoIP IP Telephony software and equipment on Thursday filed with the SEC for a $1 billion stock
Avaya was spun out of then a market leader Lucent Technologies in 2000. After seven years continuous pressure to stay in the market and challenge other leaders of the trade, got bought out by private equity firm Silver Lake Partners and TPG Capital for more than $8 billion.
In the S-1 filling the company said it will use the proceeds to pay off the long term debt. As of March 31st company owed as much as $6.18 billion.
The monies will also be used to  redeem preferred stock, and pay expenses due the termination of a management agreement with Silver and TPG. Avaya also disclosed a loss of $615 million, or $1.26 a share, for the six months ended March 31 on revenue of $2.76 billion in the filing.