UniTek Global Services, Inc. (NASDAQ: UNTK) is the newest IPO and is coming public this morning.  The company priced 19 million shares of common stock at $4.75 per share.  Prior to this offering, UniTek has traded on the Over-the-Counter Bulletin Board under the symbol “UGLB.OB.”  UniTek offers engineering, construction management and installation fulfillment services to companies in telecommunications, broadb
and cable, wireless and satellite industries. It claims over 5,200 employees in more than 100 locations in the U.S. and Canada.

The net proceeds of the offering will be approximately $82.6 million. The use of funds is to repay approximately $61.9 million of debt, with the remaining funds to be used for general corporate purposes.

FBR Capital Markets and ROTH Capital Partners acted as joint book-runners in the offering; co-managers are listed as D.A. Davidson and Janney Montgomery Scott.  The underwritering group has a 30-day option to purchase up to an additional 2,850,000 shares to cover over-allotments.  All share amounts offered reflect a one-for-28 reverse split of the common stock completed in conjunction with the pricing of the offering.

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JON C. OGG