Cyber Monday Deals 2021 41 Cyber Monday deals that end tonight Jack Dorsey steps down as CEO of Twitter The Book of Boba Fett US restricts travel over omicron PS5 restock tracker

Vastera prices above range

Vastera (Nasdaq: VAST), which provides import/export consulting to businesses through an online database, priced its 6 million shares at $14 for trading Thursday. Shares priced above their upwardly revised range of $11-$13.

The company has a niche business, but serves a broad client base: over 200 companies, including Dell (Nasdaq: DELL), Ford, Lucent (NYSE: LU), Microsoft (Nasdaq: MSFT) and Nortel (NYSE: NT). On July 14, the company bought Ford Motor Company's global customs unit in exchange for 8 million of its shares.

For the 6 months ended June 30, the company had a net loss of $15.74 million on revenue of $13.44 million, compared to a net loss of $2.62 million on revenue of $9.13 million for the same period in 1998. Accumulated deficit as of June 30, 2000 was $82.8 million.

Following the IPO, Ford will own an additional 23.2 percent of the outstanding shares, making it the single largest stockholder.

Competitors will include content aggregators such as Dun & Bradstreet and TradeCompass; international trade logistics providers such as Capstan, Nextlinx, QRS Corporation and ClearCross; and trade consultants such as management consulting firms and law firms.

Deutsche Banc Alex Brown served as the lead underwriter for the deal; co-managers were Chase H&Q and Banc of America.
• IPO Insider >