Gadget distribution company Brightstar Corp. planned to sell up
to an estimated $300 million of common stock in an initial public
offering, according to a filing with a Securities and Exchange
Commission.
Brightstar handles multiple aspects of getting wireless devices
in the hands of consumers for companies including Apple Inc.
(AAPL), Research In Motion Ltd. (RIMM, RIM.T), AT&T Inc. (T)
and Best Buy Co. Inc. (BBY) It provides such services as device
delivery, order management, device activation, billing, and light
manufacturing and assembly.
With the proceeds it plans to pay accrued dividends on
redeemable convertible preferred stock.
Chairman and Chief Executive R. Marcelo Claure will also sell an
undisclosed amount of shares, as will the company's sponsor Lindsay
Goldberg LLC.
It has proposed listing on the Nasdaq under the symbol STAR.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com