Data Return Corporation Announces Exercise of Over-Allotment Option in Connection With Initial Public Offering.IRVING, Texas--(BUSINESS WIRE)--Nov. 4, 1999-- Data Return Corporation (Nasdaq: DRTN) today announced that it completed the sale of an additional 937,500 shares of its common stock at $13.00 per share pursuant to the exercise of the underwriters' over-allotment option in connection with the Company's recent initial public offering. The initial public offering priced on October 28, 1999 and totaled 7,187,500 shares offered by the Company, including the over-allotment option. 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 from the initial public offering and exercise of the over-allotment totaled $86.9 million. Approximately $38 million of the net proceeds will be used to fund capital expenditures, and the balance will be used for working capital and other general corporate purposes, including possible strategic investments or acquisitions. Bear, Stearns & Co. Inc. acted as leading manager of the offering, and 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. Corp., Thomas Weisel Partners Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), often shortened to just TWP or TWeisel, is a U.S. middle-market and growth focused investment banking firm based in San Francisco, California. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Wit Capital Corporation acted as co-managers. A final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. related to the offering may be obtained from Bear, Stearns & Co. Inc., 245 Park Avenue, 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 , New York 10167, Attention: Prospectus Department, or by faxing a written request to (516) 254-7410; from CIBC World Markets, One World Financial Center, New York, New York 10281; from Thomas Weisel Partners LLC, One Montgomery Street, San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 94104; or from Wit Capital Corporation, 826 Broadway, 6th Floor, New York, New York 10003. A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press 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 in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. About Data Return Corporation Data Return Corporation provides advanced Internet hosting services based on technologies developed by Microsoft. The Company's advanced hosting services enable its customers to establish and maintain sophisticated e-commerce and other applications though which they can conduct transactions and manage the information on a worldwide basis over the Internet. |
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