Critical Path To Offer $250 Million Subordinated Notes.Business Editors/High Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--March 20, 2000 Critical Path, Inc. (Nasdaq: CPTH), the dominant global provider of business-to-business Internet messaging and collaboration solutions, today announced its intention to raise approximately $250 million, subject to market and other conditions, through a Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. offering of convertible subordinated notes. The notes will be convertible, at the option of the holder, into shares of Critical Path's common stock and will be non-callable for three years. Critical Path expects to use 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). for general corporate purposes. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The notes will not be registered under the Securities Act of 1933 and may not be offered or sold 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. absent registration or an applicable exemption from the registration requirements under such act. About Critical Path, Inc. Critical Path, Inc. (Nasdaq: CPTH) is the dominant global provider of complete end-to-end Internet messaging and collaboration solutions for corporations, Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISPs), Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. companies and Web portals. Through its Allsourcing strategy, Critical Path is the only advanced messaging provider to offer businesses the flexibility to outsource, midsource or insource all or part of their messaging and collaboration applications. Critical Path has built an industry-leading global infrastructure with data centers connected to key Internet exchange points See IXP and NAP. and currently reaches more than 55 million end-users through its customer relationships. Critical Path provides reliable, secure, and scalable e-mail and a flexible suite of enhanced messaging services to partners such as E*TRADE, CompuServe, Network Solutions, U S West, Sprint, France Telecom, British Telecommunications, and ICQ ("I Seek You") A conferencing program for the Internet from Mirabilis, Tel Aviv, Israel (www.icq.com). It provides interactive chat, e-mail and file transfer and can alert you when someone on your predefined list has also come online. . Critical Path is headquartered in 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 , with offices in locations nationwide and in Germany, England, Ireland, France, Denmark, Italy, Switzerland, and Argentina. More information on Critical Path can be found at www.cp.net. Critical Path and the Critical Path logo are the trademarks of Critical Path, Inc. All other trademarks are the property of their holders. NOTE TO EDITORS: The Name E*TRADE should appear with an asterisk between `E' and `TRADE'. This symbol may not transmit properly in all systems. |
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