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Midway Airlines Raises $65.1 Million in Initial Public Offering


Midway Airlines

raised $65.1 million from its first stock sale on December 5, 1997. The company sold 4.01 million shares with an IPO price of $15.50 set the night of the 4th.

Bidding for Midway shares Friday morning began at $17.125 when trading began and were being traded at $16.875 when the market closed that evening, up about 8.8 percent from the initial offering price.

Midway, the Research Triangle's busiest carrier, plans to use most of the proceeds to acquire jets. The company operates the youngest all jet fleet in the United States with twelve 98-seat Fokker F100 and one 148-seat Airbus A320 aircraft, with an average age of 3.5 years.

Larscom Signs Agreement to Acquire NetEdge Systems


Larscom Incorporated has signed a definitive purchase agreement to acquire RTP-based NetEdge Systems, Inc., a privately-held designer and manufacturer of ATM edge access equipment.

The acquisition is priced at approximately $32 million in the form of Larscom Common Stock and cash. The purchase is subject to approval by the shareholders of NetEdge systems, regulatory clearance and other customary closing conditions. The closing date is expected before year-end.

Remote Source Lighting Attracts $10 Million Investment


Morrisville-based Remote Source Lighting received a $10 million investment from Con Edison Solutions, the energy services subsidiary of Consolidated Edison Co. of New York.

The new investment brings the total equity capital raised by Remote Source Lighting to $30 million. In May, Con Ed had initially announced an agreement limited to distribution, but it did not include equity investment.

Remote Source Lighting's patented Light Pump products pump light from a single source through fiber-optic cable, illuminating entire rooms or signs.

Hold the Date! Conference on Entrepreneurship February 7th!


The 14th annual Conference on Entrepreneurship is set for February 7th, 1998. The conference is sponsored by the Council for Entrepreneurial Development (CED), Duke University's Fuqua School of Business and the Business Leader magazine.

Entrepreneurs of all stages are invited to join us for a full day of learning. Informational sessions will cover all aspect of an entrepreneurial venture, including starting out, growing up and cashing out. CED is now accepting applications. For more information, contact Tawnya Louder-Reynolds at CED.

Check out CED Activities for the Coming Weeks!


Keep up on the latest trends affecting your industry and/or entrepreneurial companies through CED's educational sessions of industry-specific roundtables and entrepreneurial monthly programs. On the agenda for the week of December 15th:

What's your company's story? Join us on Monday, December 15th for the Biotechnology Roundtable Spinning Your Story: How to Manage Your Firm's Image. An assembled panel of public relations specialists will speak from the PR point of view as well as the company view on why PR is an important part of a successful company's business strategy.

For more information on these programs, visit the CED Web calendar, or contact Bill Spruill.

Do you know what do you need to know about the process of negotiating and closing a venture capital deal? Hear what advice veterans of the venture capital process have to offer entrepreneurs and their advisors at How to Negotiate and Close a Venture Capital Deal. This seminar provides valuable tools that will increase an entrepreneur's chances to successfully compete for venture capital.