Applied Digital Solutions Files an S-1 Registration Statement for Proposed Offering of 50 Million Shares of Its Common Stock.Business Editors/High-Tech Writers PALM BEACH, Fla.--(BUSINESS WIRE)--Dec. 23, 2002 As disclosed in the 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 filed today, the Company expects to use 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). received from the sale of these shares for payment of debt and general corporate purposes. Applied Digital Solutions, Inc. (Nasdaq: ADSX ADSX Applied Digital Solutions, Inc. (stock symbol) ) announced today that it has filed with the Securities and Exchange Commission a Registration Statement on Form S-1 for the proposed offering of 50 million shares of its common stock. As disclosed in the preliminary prospectus filed today, the Company expects to use net proceeds received from the sale of these shares for payment of debt and general corporate purposes. This press release does not constitute an offer of any securities for sale. The securities laws prohibit pro·hib·it tr.v. pro·hib·it·ed, pro·hib·it·ing, pro·hib·its 1. To forbid by authority: Smoking is prohibited in most theaters. See Synonyms at forbid. 2. the Company at this time from issuing any further information with respect to the registration statement. |
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