ADIC Announces Public Stock Offering.REDMOND, Wash.--(BUSINESS WIRE)--Aug. 6, 1999-- Advanced Digital Information Corporation (Nasdaq:ADIC) today announced that it has filed a registration statement with the Securities and Exchange Commission relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a proposed public offering of 2,500,000 shares of Common Stock, all of which will be offered by the Company. The Company has also granted the Underwriters an option to purchase up to an additional 375,000 shares to cover over-allotments, if any. Upon the effectiveness of ADIC's previously announced stock split on August 12th, 1999, the number of shares included in the proposed offering will be 5,000,000 (5,750,000 including the Underwriter's over-allotment option). An underwriting group managed by Donaldson, Lufkin & Jenrette Securities Corporation, Hambrecht & Quist LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Bear, Stearns & Co. Inc. and Needham & Company, Inc. will offer the shares. 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). from the offering will be used for repayment of indebtedness, working capital and general corporate purposes, as well as the possible acquisition of or investment in complementary business technologies. ADIC provides hardware and software data storage solutions to the open systems marketplace. With automated tape libraries installed in a wide variety of industries, as well as open systems software solutions and Storage Area Networking (SAN) products, ADIC is a global provider in the growing market to manage and protect information in computer networks. Marketed under ADIC and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partner brands, including Dell, Exabyte and Unisys, the Company's automated tape libraries utilize a variety of tape and optical storage devices and are supported by over 50 backup and storage management software products for Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. and UNIX operating systems. ADIC's own storage management tools include AMASS (Archive Management And Storage System) Tape management software for Unix from Quantum Corporation, Colorado Springs, CO (www.quantum.com). Originally developed by ADIC, AMASS makes the tape library look like an infinite disk drive to the application. (R) direct data access software which provides network users shared access to information stored in automated libraries. ADIC also offers Fibre Channel routers and the industry's first tape libraries with direct Fibre Channel connectivity. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time a registration statement becomes effective. This press release 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction. When available, a preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders relating to the proposed offering may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation at 277 Park Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10172 at 212/892-4525; Hambrecht & Quist LLC at One Bush Street, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA 94104 at 415/439-3000; Bear, Stearns & Co. Inc. at 245 Park Avenue, New York, NY 10167 at 212/272-4850; or Needham & Company, Inc. at 445 Park Avenue, New York, NY 10022 at 212/371-8300. ADIC and AMASS are trademarks of Advanced Digital Information Corporation. All other product, trademark, company, or service names mentioned herein are the property of their respective owners. |
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