Corel Corporation Announces Pricing of Initial Public Offering.OTTAWA -- Corel Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CREL CREL Circular Regional Externa de Lisboa ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ) today announced that it has priced its initial public offering of 6,500,000 common shares at US $16.00 (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $18.11) per share. The offering includes 5,000,000 common shares to be sold by Corel and 1,500,000 common shares to be sold by certain selling shareholders. Corel and the selling shareholders have granted the underwriters the right to purchase up to an additional 975,000 common shares to cover over-allotments. The offering is expected to close on or about Tuesday May 2, 2006 and is subject to the satisfaction of customary closing conditions. Corel's common shares will trade on the NASDAQ under the symbol CREL and on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol CRE. Corel will receive estimated 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 approximately US $69.0 million from the offering which it intends to use to repay outstanding debt and for general corporate purposes. Morgan Stanley & Co. Incorporated is acting as lead bookrunning manager for the offering. JPMorgan, Deutsche Bank, Piper Jaffray, CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. and Canaccord Adams are co-managers. A copy of the prospectus relating to this offering may be obtained from Morgan Stanley & Co. Incorporated, 180 Varick Street, 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 10014 or by emailing prospectus@morganstanley.com. It may also be accessed through Corel's website at www.corel.com or directly from the U.S. Securities and Exchange Commission at www.sec.gov. The final supplemented Canadian prospectus will be filed with the applicable Canadian securities authorities and will be available at www.sedar.com. This 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 or any acceptance of an offer to buy these securities in any State, province or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to their registration or qualification under the securities laws of any such State, province or jurisdiction. About Corel Corporation Corel is a leading global packaged software company with an estimated installed base of over 20 million users. The Company provides high quality, affordable and easy-to-use productivity, graphics and digital imaging software and enjoys a favorable market position among value-conscious consumers and small businesses. Its products are sold in over 75 countries through a scalable distribution platform comprised of original equipment manufacturers (OEMs), Corel's domestic and international websites, and a global network of resellers and retailers. The Company's product portfolio features well-established, globally recognized brands including CorelDRAW(R) Graphics Suite, Corel(R) WordPerfect(R) Office, Corel Paint Shop(R) Pro, and Corel Painter(TM). (C) 2006 Corel Corporation. All rights reserved. Corel, CorelDRAW, WordPerfect, Paint Shop, Painter, and the Corel logo are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries. All other product, font and company names and logos are trademarks or registered trademarks of their respective companies. CRELF |
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