Bitstream announces initial public offering of 2,100,000 shares of Common Stock.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 30, 1996-- Bitstream Inc. today announced that it has made an initial public offering of 2,100,000 shares of Class A Common Stock at a price of $6.00 per share. The stock is being traded over-the-counter on the National Market System under the Nasdaq symbol BITS. An underwriting group is being managed by Volpe, Welty & Company and Advest, Inc. 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 will be used to repay certain indebtedness and for working capital and general corporate purposes. Bitstream Inc. develops and markets software products and technologies to enhance the creation, transport, viewing and printing of electronic documents. Bitstream licenses its products and technologies to original equipment manufacturers and independent software vendors for inclusion in their output devices, embedded systems Embedded systems Computer systems that cannot be programmed by the user because they are preprogrammed for a specific task and are buried within the equipment they serve. , applications, Internet authoring tools, World Wide Web browsers and other products. A copy of the 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 can be obtained from Volpe, Welty & Company, One Maritime Plaza One Maritime Plaza is an office tower located in San Francisco's Financial District near the Embarcadero Center towers on Clay and Front Streets. The building, completed in 1964, stands 121 m (398 feet) and has 27 floors of office space. , San Francisco, CA 94111, 415/956-8120 or from Advest Inc., 100 Federal Street, Boston, MA 02110, 617/423-0003. -0- 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: Bitstream C. Raymond Boelig, 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. James D. Hart, CFO See Chief Financial Officer. 617/497-6222 |
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