Cysive, Inc. (Nasdaq: CYSV) on Tuesday announced a 2-for-1 stock-split and a secondary offering of 3 million shares of its common stock.
Shares in the e-business software company, which launched its IPO last October, fell 11 to 100 Tuesday morning.
The company's board of directors has approved a 2-for-1 stock split, to be distributed on May 8, 2000, to holders of record of its common stock on April 27, 2000.
Of the 3 million shares being offered, 1.5 million will be offered by Cysive and the other half will be offered by certain stockholders of the company. The underwriters have the option to purchase up to an additional 450,000 shares from the selling stockholders to cover over-allotments.
Thomas Weisel Partners LLC is lead manager of the offering, and First Union Securities, Inc., Friedman Billings Ramsey, Robert W. Baird & Co. and Legg Mason Wood Walker Inc. are co-managers.
The company's main competitors Internet professional services providers, such as Proxicom, Inc. (Nasdaq: PXCM), Scient Corp. (Nasdaq: SCNT) and Viant Corp. (Nasdaq: VIAN).