C2i Solutions Announces Initial Public Offering of 1 Million Shares of Common Stock and 1 Million Warrants.SAN DIEGO--(BUSINESS WIRE)--Feb. 25, 1998--C2i Solutions Inc. (Nasdaq:CTWO CTWO Center for Third World Organizing ), a provider of services to address the Year 2000 challenge and transition legacy computer systems, Wednesday announced the initial public offering of 1 million shares of common stock at $6 per share and 1 million redeemable warrants at 10 cents per warrant. Each warrant entitles the holder to purchase one share of common stock at a price equal to $7.50 (subject to adjustment) in the four-year period beginning one year after the closing of the offering. All of the shares and warrants were sold by the company. In addition, the company has granted the underwriter an option to purchase an additional 150,000 shares and an additional 150,000 warrants to cover over-allotments, if any. Trading in C2i Solutions' shares and warrants commenced yesterday on the Nasdaq Small Cap Market under the symbols CTWO and CTWOW, respectively. The offering was made through an underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. managed by Gilford Securities Inc. C2i Solutions, with headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , provides services to address the Year 2000 challenge and to transition legacy software applications. C2i employs proven methodology, advanced tools and the expertise of dedicated professionals to offer a wide variety of Year 2000 services. Copies of the prospectus relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities may be obtained from Gilford Securities Inc., 850 Third Ave., 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 , N.Y., 10022, 212/888-6400. -0- This news release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of such state. The statements in this news release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties that could cause actual results or events to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, without limitation, those mentioned in C2i Solution's prospectus dated Feb. 24, 1998, under the heading "Risk Factors." Residents of New Jersey: This offering is being directed to New Jersey accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". only, as defined by Rule 501 of Regulation D, promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. under the Securities Act of 1933. An accredited investor includes, without limitation, any natural person whose individual net worth, or joint net worth with that person's spouse, at the time of his or her purchase exceeds $1 million, or any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years, and has a reasonable expectation of reaching the same income level in the current year. CONTACT: C2i Solutions Inc., San Diego Diane Hessler, 619/812-5800 dhessler@c2isolutions.com or Stoorza Ziegaus & Metzger Joleen Schultz Batstone, 619/236-1332 joleen_schultz@szmi.com |
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