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Computer Learning Centers announces exercise of over-allotment option.


FAIRFAX, VA--(BUSINESS WIRE)--November 1, 1996--Computer Learning Centers, Inc. (Nasdaq National Market: CLCX) ("CLC (The Computer Language Company Inc.) The publisher of this Encyclopedia. See About this product. ") today announced that the investment banking firms of Robertson, Stephens & Company LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 and Piper Jaffray Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota and is a focused on delivering financial advice, investment products and transaction execution  Inc., underwriters of the Company's recently completed public offering, have exercised their over-allotment option to purchase from CLC and certain selling stockholders of the Company an additional 170,216 shares of common stock at a price of $25.75. The additional 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 CLC after the deduction of underwriters commissions are approximately $1.5 million. CLC has realized total net proceeds from the offering, after the deduction of underwriters commissions and estimated expenses payable by the Company, of approximately $11.5 million.

The Company plans to use these additional net proceeds, along with those of the recently completed public offering, for working capital and general corporate purposes, including the opening of new facilities and expansion of the Company's programs. The Company did not receive any of the proceeds from the sale of shares by the selling stockholders.

Computer Learning Centers provides information and computer-related education and training at 11 Learning Centers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company designs programs and courses to meet current information technology education needs, offering instruction in technologies such as client/server, databases, networking and object-oriented programming.

CONTACT: OR CLCX INVESTOR RELATIONS Investor relations

The process by which the corporation communicates with its investors.
 COUNSEL:

Computer Learning Centers, Inc. The Equity Group

Charles Cosgrove Devin Sullivan, (212) 836-9608

Chief Financial Officer Tamara Ehlin, (212) 836-9607

(703) 359-7702
COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 1, 1996
Words:240
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