Advanced Digital Information Corporation Offers 1,525,000 Shares of Common Stock at $17.00 Per Share.REDMOND, Wash.--(BUSINESS WIRE)--March 12, 1997--Advanced Digital Information Corporation ("ADIC" or the "Company") announced the public offering of 1,525,000 shares of common stock at a price of $17.00 per share. Of the total, 1,500,000 shares were offered by the Company and 25,000 were offered by a selling stockholder. Hambrecht & Quist LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control lead- managed the underwriting group and Dain Bosworth Incorporated served as co-manager. The Company expects to use the proceeds for working capital and other general corporate purposes. ADIC is a leading provider of automated tape libraries and standalone tape drives used to back up and archive electronic data in client/server network (1) A communications network that uses dedicated servers. In this context, the term is used to contrast it with a peer-to-peer network, which allows any client to also be a server. (2) A network that is processing applications designed for client/server architecture. computing environments. The Company integrates proprietary electro-mechanical robotics, electronics hardware and firmware with technologically advanced tape drives manufactured by third parties to provide highly automated data storage protection. When used with third-party storage See online storage. management software, the Company's products can perform sophisticated backup and archiving of electronic data residing across a network of PCs, workstations and servers with minimal human intervention. The Company's product family operates in both PC-based (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 Novell NetWare) and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). environments and provides data storage capacity ranging from four gigabytes to over three terabytes. A copy of the prospectus relating to the offering may be obtained from Hambrecht & Quist LLC, One Bush Street, San Francisco, CA 94104 or 230 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 10169 or from Dain Bosworth Incorporated, 60 South Sixth Street, Minneapolis, MN 55402. CONTACT: Advanced Digital Information Corporation, Redmond Peter van Oppen or Chuck Stonecipher, 206/881-8004 Internet address: invest@ADIC.com |
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