Claremont Technology Group, Inc. Announces Underwriters Exercise of Overallotment Option.BEAVERTON, Ore.--(BUSINESS WIRE)--Aug. 15, 1996--Claremont Technology Group, Inc. (Nasdaq: CLMT) announced today that the underwriters of the Company's initial public offering, Robertson Stephens & Co. LLP LLP - Lower Layer Protocol , Donaldson, Lufkin & Jennrette Securities Corporation, and J.P. Morgan & Co., have exercised their option to purchase 420,000 additional shares of Claremont common stock to cover overallotments in connection with the Company's recent initial public offering. The overallotmnet included 262,500 shares sold by the Company and 157,500 shares sold by certain selling shareholders. 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). to the Company after underwriting discounts and commissions, including the initial offering proceeds of $24,412,500, now total $28,074,375. Per the offering prospectus, the proceeds were to be used for repayment of principal and interest on a revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. , working capital and for general corporate purposes. Claremont Technology Group provides enterprise-wide information technology solutions that re-engineer mission critical business processes such as customer service, order processing, billing and logistics. These services are provided to large organizations in select high-demand vertical markets, including communications, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and pension/retirement services. This announcement 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 of sale would be unlawful prior to registration or qualification under the securities laws of any such State. A copy of the prospectus relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the offering may be obtained from Robertson, Stephens & Company LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (555 California Street, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA 94104, (415) 781-9700), Donaldson, Lufkin & Jenrette Securities Corporation (200 West Madison Street, Suite 1700, Chicago, IL 60606-5439, (312) 345-6100) or J.P. Morgan & Co., (101 California Street, 38th Floor, San Francisco, CA 94111, (415) 954-3200). CONTACT: Claremont Technology Group, Inc. Dennis Goett, 914/697-7510 or Fi.Comm, Ltd. Heidi Flannery, 503/221-7403 |
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