BindView Development Corporation Announces Completion of a Public Stock Offering.HOUSTON--(BUSINESS WIRE)--Dec.4, 1998--BindView Development Corporation (Nasdaq: BVEW BVEW Binary View ) announced the completion of a follow-on offering Follow-On Offering An offering of additional shares after a company has had an initial public offering. Notes: This sometimes means the company is strapped for cash. So they need to issue more shares to pay bills or finance a new project. of 3,000,000 shares of Common Stock at a price of $21.00 per share. Of the 3,000,000 shares being offered, 300,000 shares are being offered by the Company and 2,700,000 shares are being offered by selling shareholders. The Company will not receive any of the proceeds from the sale of shares by the selling shareholders. The Company and certain of the selling shareholders have also granted the Underwriters an option to purchase up to an additional 450,000 shares to cover over-allotments, if any. The shares are being offered through underwriters led by BancBoston Robertson Stephens Inc., BT Alex. Brown Incorporated, Donaldson, Lufkin & Jenrette Securities Corporation and CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Oppenheimer Corp. The 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). of the offering to the Company are currently expected to be used to cover the expenses of the offering and for general corporate purposes. 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. A final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to the offering may be obtained from the office of BancBoston Robertson Stephens Inc., 555 California Street, Suite 2600, San Francisco, CA 94104 415/781-9700; BT Alex. Brown Incorporated, 1 South Street, Baltimore, MD 21202 410/727-1700; Donaldson, Lufkin & Jenrette, 277 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 10172 212/892-3000; or CIBC Oppenheimer Corp., 1 World Financial Center, CIBC Oppenheimer Tower, New York, NY 10281 212/667-7000. About BindView Development Corporation BindView Development Corporation develops, markets and supports a suite of systems management software products, which manage the security and integrity of complex, distributed client/server networks operating on Microsoft Windows NT and Novell NetWare environments. The Company's primary product line, BindView EMS, provides software solutions for systems administration, security management, enterprise inventory of LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. assets, and Year 2000 assessment of PC hardware and software. Headquartered in Houston, Texas, BindView's shares of common stock trade on the Nasdaq National Market System under the symbol bvew. For more information about BindView, please call investor relations Investor relations The process by which the corporation communicates with its investors. at 713/843-1799. For information about BindView's products, call 713/561-4000 and visit its Web site at http://www.bindview.com. BindView, BindView Development Corporation and BindView EMS are trademarks or registered trademarks of BindView Development Corporation. Other trademarks are the property of their respective owners. |
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