Auspex Raises $90 Million Through Private Common Stock Placement.Business Editors & High-tech Writers SANTA CLARA, Calif.--(BUSINESS WIRE)--Sept. 25, 2000 Auspex aus·pex n. pl. aus·pi·ces An augur of ancient Rome, especially one who interpreted omens derived from the observation of birds. [Latin; see auspice.] Noun 1. Systems, Inc., (Nasdaq: ASPX ASPX Active Server Page Framework (Microsoft) ASPX Active Server Plus Pages ), the technology leader in Network Attached Storage, announced completion of a private placement of common stock, at market price realizing gross proceeds of $90,143,000. Investors include State of Wisconsin Investment Board, RS Investment Management and The Clark Estates. "Participants in this private placement include existing and new shareholders who have demonstrated confidence in the new management team and our competitive future," said Gary J. Sbona, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This should eliminate concerns among our current and future customers about Auspex's returning to prominence in the storage market." The company also announced that the remaining 50 percent of its outstanding Series B Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. has been converted to common stock effective Sept. 15, 2000, in accordance with the terms and conditions of the Series B Preferred Stock and related agreements dated Jan. 18, 2000, and that the company now has no outstanding preferred stock. About Auspex Auspex is the Network Attached Storage (NAS (1) See network access server. (2) (Network Attached Storage) A specialized file server that connects to the network. A NAS device contains a slimmed-down operating system and a file system and processes only I/O requests by supporting the popular ) server choice of Fortune 1000 customers in the semiconductor, software development, oil and gas exploration, automotive, aerospace, communications, publishing, entertainment, animation, and financial services industries. Its products are designed for storage applications requiring secure NT 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). data sharing from a single data image, server consolidation or continuous network data availability. The company excels in enterprise-level (multi-terabyte) storage solutions and services. Learn more about Auspex at www.auspex.com. This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include: delays in the implementation of changes in delivery models, increased competitive environment and pricing pressures, delays in product rollout schedules, component shortages, slow acceptance for new form factors, employee retention, disruptions related to restructuring actions, the financial condition of resellers, delays in new systems implementation, operational inefficiencies related to sales cycles, equity investment volatility, and emerging market political or economic instability. Further information on the factors that could affect Auspex's financial results is included in Auspex's Securities and Exchange Commission (SEC) filings, including the latest Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and the latest Quarterly Report on Form 10-Q Form 10-Q See 10-Q. . |
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