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UPC Newsletters>
SAIC to go public in 2006 - 40 for 1 stock split
September 3, 2005
The following Press Release was recieved today regarding
SAIC who is one of the corporations UPC models because they
are an employee owned company. We made a good choice!
SAIC News Release
SAIC Plans to Offer Shares to the Public
-September 1, 2005-
(SAN DIEGO) - Science Applications International
Corporation (SAIC) today announced that its Board of
Directors has decided to conduct an initial public offering
of common stock. The number of shares to be offered and the
price range of the proposed offering have not yet been
determined. SAIC expects the initial public offering to
commence in early 2006.
This News Release is available at
http://www.saic.com/saic-ipo/press.html
If you have time, click on the link and read the press
release. Here are two incredible excerpts:
"All or substantially all of the net proceeds from the
initial public offering will be used to pay a special
dividend to SAIC's stockholders of record prior to the
initial public offering. The principal purpose of the
initial public offering is to better enable SAIC to use its
cash and cash flows from operations to fund organic growth
and growth through acquisitions, as well as to provide SAIC
with publicly-traded stock that it can use for future
acquisitions. Creating a publicly-traded stock also
eliminates the need for SAIC to use its cash to provide
liquidity to its stockholders through its internal stock
market."
"In the capital restructuring, each outstanding share of
SAIC class A common stock will be converted into the right
to receive two shares of class A preferred stock of SAIC,
Inc. and each outstanding share of SAIC class B common
stock will be converted into the right to receive 40 shares
of class A preferred stock of SAIC, Inc. Common stock of
SAIC, Inc. will be offered in the proposed initial public
offering." 
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