Bell Technology Group Announces Proposed Private Placement of Senior Notes and Warrants.NEW YORK--(BUSINESS WIRE)--March 27, 1998--Bell Technology Group Ltd. (Nasdaq SmallCap: BELT, BELTW) announced today that it intends, subject to market and other conditions, to raise up to $140 million in a private placement pursuant to Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. of high yield securities. The securities to be offered will not be registered under the Securities Act of 1933 or applicable state securities laws and will not be offered or sold absent registration under the Securities Act of 1933 and applicable state securities laws or available exemptions from registration requirements. Bell Technology Group Ltd. is an Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. engaged in the design, construction and provision of sophisticated Internet-based solutions to large and medium size business enterprises. The company's services include: (i) high bandwidth dedicated Internet access See how to access the Internet. , web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. and co-location facilities, (ii) value-added systems and network integration, (iii) interactive development -- digital web design, web implementation and 3-dimensional computer animation and (iv) instructor-led corporate training. The company currently provides Internet services to over 450 clients in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . 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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. CONTACT: Bell Technology Group Ltd. Marc H. Bell, President 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. 212/334-8501 marc_bell@belltech.com |
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