4FRONT SOFTWARE INTERNATIONAL, INC. ANNOUNCES THE EXERCISE OF OVER-ALLOTMENT OPTION.LONDON--(BUSINESS WIRE)--July 8, 1996--4Front Software International, Inc. (Nasdaq NM Symbol: FFST FFST First Failure Support Technology FFST Fat Free Soft Tissue FFST Full and Flat Square Tube (Cathode Ray Tube design) ) today announced that its underwriters have exercised their over-allotment option to purchase 450,000 shares of Common Stock. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to the Company were $2,328,750. In a secondary offering completed June 19, 1996, 4Front sold 3 million shares of its Common Stock at $5.75 per share, receiving net proceeds of $15,870,000. The Common Stock is traded on the Nasdaq National Market under the symbol FFST. The underwriters for the offering are Kaufman Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) ., L.P. and First Albany Corporation. 4Front Software International, Inc., a UK-based specialized computer services Data processing (timesharing, batch processing), software development and consulting services. See service bureau, SaaS and ASP. company provides a wide range of specialized high-end information technology solutions and services principally to Financial Times UK Top 500 companies and government authorities. The Company provides key elements of distributed computing (1) The use of multiple computers networked throughout a wide geographical area, or the world via the Internet, in order to solve a single problem. See grid computing. (2) The use of multiple computers in an enterprise rather than one centralized system. , including systems development and integration, storage and client-server solutions and products, as well as extensive hardware and software support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services . The Company's customers include National Westminister Bank plc, British Aerospace plc, Oracle Corporation UK Ltd., Royal Dutch/Shell Group plc, Orange plc, British Telecom plc, Alcatel Data Networks Ltd., Sun Microsystems Corp., Cambridge University and the British Ministry of Defense. This press announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. CONTACT: Lippert/Heilshorn Associates, Inc. Investor Relations Investor relations The process by which the corporation communicates with its investors. : John Nesbett, ext. 101 Jason Thompson, ext. 124 212/838-3777 or Company Contact: Mark Ellis or Ken Newell 4Front Software International, Inc. 011/44-1923-816266 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion