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Short Take: Mobility Electronics lowers IPO range

The price range for Mobility Electronics' initial public offering of 4 million common shares fell to $9-$11 per share from $13-$15, the company said. The IPO for the company, which makes accessories for portable computers, is tentatively expected to begin trading the week of June 26 under the symbol MOBE. With the lower range, disclosed in a filing with the Securities and Exchange Commission, Mobility's net proceeds would be reduced to about $36 million from $51 million. Mobility, of Scottsdale, Ariz., designs and develops docking stations and power adapters for laptop and handheld computers.

The price range for Mobility Electronics' initial public offering of 4 million common shares fell to $9-$11 per share from $13-$15, the company said. The IPO for the company, which makes accessories for portable computers, is tentatively expected to begin trading the week of June 26 under the symbol MOBE. With the lower range, disclosed in a filing with the Securities and Exchange Commission, Mobility's net proceeds would be reduced to about $36 million from $51 million. Mobility, of Scottsdale, Ariz., designs and develops docking stations and power adapters for laptop and handheld computers.