Pacific Northwest Zumiez, a 26-year-old action-sports retailer, yesterday laid out plans to sell 1. 88 million shares to the public at between...
Zumiez, a 26-year-old action-sports retailer, yesterday laid out plans to sell 1.88 million shares to the public at between $15 and $17 a share, according to a Securities and Exchange Commission filing.
The Everett-based retailer, which announced in February that it would go public, could raise as much as $31.9 million, before deducting fees associated with taking the company public. Private shareholders plan to sell an additional 1.25 million shares to the public, raising up to $21.3 million before fees. Zumiez will not receive proceeds from that sale.
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Singapore narrows fighter-jet choice
Singapore has dropped the Eurofighter Typhoon combat jet from a $1 billion-plus warplane order, setting the stage for a bidding duel between French Dassault’s Rafale jet and Boeing’s F-15.
The Singapore order, expected to include 20 jets, is pivotal because Boeing needs orders for the F-15, which went into production in the 1970s, to ensure continued production while Dassault is hunting for its first export order.
Round 2, Forgent sues Microsoft back
Microsoft was accused in a lawsuit yesterday of infringing on Forgent Network’s patent for the JPEG format, which is used in most personal computers for storing digital photos.
The suit, filed in Texas, comes three days after Microsoft filed a lawsuit in California seeking to invalidate the patent. Forgent said it has generated $100 million from licensing the patent to 35 companies.
Forgent has filed patent-infringement suits against 44 companies in the past three years. IBM, Hewlett-Packard and 20 other companies sued Forgent last year, seeking to have the patent invalidated. The cases are consolidated in San Francisco federal court.
eBay drop-off chain opening new stores
The growing number of eBay drop-off stores have found their way to Seattle.
iSOLD It of Washington, a franchise operator of Pasadena, Calif.-based iSOLD It, today plans to open a store on Queen Anne and another in Kent next month.
The Washington franchise, which operates two stores in Federal Way and Puyallup, lets customers drop off items valued at $30 or more to have them sold on eBay for a percentage of the sales price.
Nation / World
Scrushy defense comes out swinging
Richard Scrushy’s defense opened its case with an attack on an important piece of government evidence yesterday after a judge refused to halt his fraud trial but dismissed some charges against the fired HealthSouth chief executive.
The defense began presenting its case after U.S. District Judge Karon Bowdre refused to halt the trial, rejecting defense requests to throw out most key charges but dismissing three other counts.
In a win for prosecutors, Bowdre refused to dismiss charges of conspiracy, securities fraud, wire fraud and filing false statements with the Securities and Exchange Commission.
Compiled from Seattle Times business staff, Bloomberg News and Reuters