ACT Teleconferencing completes initial public offering; company nets $2.2 million through sale of 750,000 units.GOLDEN, Colo.--(BUSINESS WIRE)--March 12, 1996--ACT Teleconferencing, Inc. (Nasdaq-ACTTU), a international provider of audio, data, and video teleconferencing See videoconferencing. products and services, today announced successful completion of its initial public offering. The offering, managed by Tuschner & Company of Minneapolis, exceeded the minimum of 700,000 Units on March 5. Each Unit, priced at $3.50, consists of one share of common stock and one redeemable three year warrant to purchase a share of common stock at $5.00 per share. The Company expects 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). of approximately $2 million after payment of offering expenses. ACT's listing on the Nasdaq SmallCap Market became effective on March 11. Units trade under the symbol ACTTU. After 30 days, or earlier in the discretion of Tuschner & Company, the common shares and warrants will be eligible to trade separately on Nasdaq under the symbols ACTT ACTT n abbr (BRIT) (= Association of Cinematographic, Television and Allied Technicians) → sindicato de técnicos de cine y televisión and ACTTW, respectively. "This offering provides us with the capital to launch our new Action View(tm) video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. system and to continue expansion of audio and video teleconferencing operations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and also in Europe, where our operations are contributing 50% to revenue mix," said Gerald Van Eeckhout, Chairman. ACT Teleconferencing provides audio, data and video teleconferencing services, and markets audio and video teleconferencing systems. The company is headquartered in Golden, Colorado The City of Golden is a home rule municipality that is the county seat of Jefferson County, Colorado, United States. Golden lies along Clear Creek at the eastern edge of the foothills of the Front Range of the Rocky Mountains. , and has offices in St. Paul, Chicago, London and Amsterdam. CONTACT: ACT Teleconferencing, Inc. Pam Van Eeckhout, 303/233-3500 |
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