Axesstel Announces Exercise of Over-Allotment Option.SAN DIEGO -- Axesstel, Inc. (AMEX AMEX See: American Stock Exchange :AFT), a designer, developer and marketer of high-quality, CDMA-based fixed wireless voice and data products for the worldwide telecommunications market, announced today that the underwriters of its public offering that priced on February 24, 2005 have exercised their option to purchase an additional 1,069,432 shares of its common stock to cover over-allotments. Of the additional shares purchased, 714,708 were purchased from Axesstel and 354,724 were purchased from a stockholder of Axesstel. First Albany Capital Inc. acted as the book runner Book Runner The managing or lead underwriter who maintains the books of securities sold for a new issue. Notes: In other words, this person is the underwriter who "runs" the books. Often the book runner is given credit for the total size of the deal. and Pacific Growth Equities, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as co-lead manager for the offering. Merriman Curhan Ford & Co. acted as co-manager for the offering. Copies of the final prospectus relating to the public offering may be obtained from First Albany Capital Inc., Equity Capital Markets Syndicate, One Penn Plaza One Penn Plaza is a skyscraper near Pennsylvania Station in New York City, west of Seventh Avenue, between 33rd and 34th Streets. It was designed by Kahn & Jacobs and completed in 1972. It reaches 229 meters (750 feet) with 57 floors. , 42nd Floor, New York, NY 10119; Pacific Growth Equities, LLC, Prospectus Department, One Bush Street, 17th Floor, San Francisco, CA 94104; or Merriman Curhan Ford & Co., 600 California Street, 9th Floor, San Francisco, CA 94108. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 24, 2005. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 laws of any such state or jurisdiction. About Axesstel, Inc. Axesstel designs, develops and markets fixed wireless voice and data products for the worldwide telecommunications market. Axesstel's products are based on Code Division Multiple Access, or CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. , technology, and include CDMA2000 and emerging third-generation, or 3G, broadband data technologies, which are newer versions of the CDMA standard. Axesstel's product lines include fixed wireless desktop phone terminals, payphone payphone Noun a coin-operated telephone payphone pay n → Münztelefon nt; (card phone) → Kartentelefon nt terminals, voice/data terminals and broadband modems used for high-speed data services. Axesstel is headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , with a research and development center in Seoul, South Korea. |
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