Cunningham Graphics International, Inc. Prices Initial Public Offering of 2,200,000 Shares At $13.00 Per Share.JERSEY CITY, N.J.--(BUSINESS WIRE)--April 22, 1998--Cunningham Graphics International, Inc. (Nasdaq: CGII CGII Canadian Government Information on the Internet CGII Capital Group International, Inc. ), a graphic communications services company, today announced an initial public offering of 2,200,000 shares of common stock at a price of $13.00 per share. The shares trade on the Nasdaq National Market System under the symbol CGII. Schroder & Co. Inc. served as lead manager in the offering with Prudential Securities Incorporated as co-manager. The Company has granted the underwriters a 30-day option to purchase up to 330,000 additional shares to cover over-allotments, if any. The offering will result in proceeds to the Company, net of 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. discounts and commissions and offering expenses, of approximately $25.8 million. Of the total 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). , the Company will use approximately $5.9 million to fund the purchase price of a pending acquisition and $8.4 million to repay certain indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. , including $4.8 million to certain related-parties. The remaining net proceeds will be used for working capital and for general corporate purposes, which may include capital expenditures, marketing activities and future strategic acquisitions. The Company provides a wide range of graphic communications services to financial institutions and corporations, focusing on producing and distributing time- sensitive analytical research and marketing materials and on providing on-demand printing See print on demand. services. This press 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 these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus can be obtained from Schroder & Co. Inc., 787 Seventh Avenue, 5th Floor, 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 10019, (212) 492-6000. CONTACT: Cunningham Graphics International, Inc., Jersey City Michael R. Cunningham, 201/217-1990 x215 |
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