News Article: 1993-03-11: COMPANY NEWS; 3DO, DEVELOPER OF MULTIMEDIA SYSTEM, TO ISSUE STOCK From The New York Times

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March 3, 1993

COMPANY NEWS; 3DO, DEVELOPER OF MULTIMEDIA SYSTEM, TO ISSUE STOCK

The 3DO Company, a joint venture whose backers include A.T.& T., Time Warner and Matsushita, plans to raise about $22 million through an initial public offering of common stock. The company, based in San Mateo, Calif., has filed with the Securities and Exchange Commission to sell 2.2 million shares at an anticipated price of $10 to $12 a share. Morgan Stanley & Company and Alex. Brown & Sons will lead the underwriting group. 3DO is developing a multimedia system that would play audio compact disks, display photo compact disks and run entertainment, education and information programs. For the 10 months ended Jan. 31, 3DO lost $10.5 million. The company had no revenue.
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