A company named Midas Medici Group Holdings, Inc. is aiming to join the companies moving from the OTC Bulletin Board to the New York Stock Exchange’s AMEX platform. On Monday night it filed to sell up to 8,297,022 Shares of common stock, with 6,000,000 shares of common stock being sold by the company itself and selling stockholders are selling 2,297,022 shares of common stock.
No underwriters were named and the company confirmed as usual that it will not receive any proceeds from the sale of shares by the selling stockholders.
While no formal terms were set, the company noted that it anticipates that the public offering price will be between $3.00 to $4.00 per share.
As far as the exchange transfer, the company noted, “We intend to apply for listing of our common stock on NYSE AMEX under the symbol “WATT”. No assurance can be given that our application will be approved. On February 3, 2012, the last reported sale price for our common stock on the OTC Bulletin Board was $2.00 per share.” Shares are indicated down even more today on micro-volume. So, how will shares be higher? It is a fair question.
The company offers information technology solutions to medium sized and large commercial enterprises and government institutions in the United States and Brazil. It specifically noted, “Our solutions comprise data center and cloud computing enabling hardware, software and services. Our services include virtualization, cloud and managed services, storage and archiving solutions, smart grid services and data center services. As part of these services we offer customized solutions for business continuity, back-up and recovery, capacity-on-demand, regulatory compliance and data center best practice methodologies as well as infrastructure as a service (“IaaS”) and software as a service (“SaaS”).”
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