Printer Friendly

TELEPAD COMPLETES INITIAL PUBLIC OFFERING; RAISES $7.3 MILLION

 RESTON, Va., July 15 /PRNewswire/ -- TelePad Corporation (NASDAQ: TPADA) today announced the successful completion of an initial public offering of securities. The proceeds to the company were approximately $7.3 million. TelePad issued 1,550,000 units to investors, each unit consisting of one share of class A common stock, one redeemable class A warrant and oned?eemable class B warrant. There are now 2,104,693 shares of class A TelePad common stock outstanding. The offering price was $5.25 per unit.
 The components of the units are transferable separately immediately upon issuance. Each class A warrant entities the registered holder thereof to purchase one share of class A common stock and one class B warrant at an exercise price of $6.80, subject to adjustment, at any time until the fifth anniversary of the date of the prospectus. Each class B warrant entitles the registered holder thereof to purchase one share of class A common stock at an exercise price of $9.85, subject to adjustment, at any time until the fifth anniversary of the prospectus, which was dated July 15, 1993. Class A and B warrants will trade under the symbols TPADW and TPADZ, respectively. The issue was brought to the market through D.H. Blair Investment Banking Corp.
 The company plans to use the proceeds from its offering to finance marketing activities; to repay indebtedness; for product research and development, and for working capital and general and administrative expenses.
 TelePad Corporation is engaged in the design, development and marketing of pen-based computing and mobile communications systems and software. Its TelePad(TM) SL a portable, clipboard-size pen computer weighing less than four and three quarter pounds, is manufactured under contract with IBM Corporation. The company intends to market the TelePad(TM) SL, related software and hardware products and solutions to assist private business and government entities in managing, communicating and processing information, facilitating the creation of a field automation system.
 -0- 7/15/93
 /CONTACT: Scott Dankman, chairman of the board of TelePad Corporation, 703-834-9000, or John M. Cathey of Ruder Finn, Inc., 212- 593-6385, for TelePad/
 (TPADA)


CO: TelePad Corporation ST: Virginia IN: TLS SU: OFR

LG-OS -- NY058 -- 2009 07/15/93 13:15 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 15, 1993
Words:369
Previous Article:THE NEW YORK TIMES COMPANY DECLARES REGULAR QUARTERLY DIVIDEND
Next Article:NOBLE AFFILIATES CLOSES ACQUISITION OF CERTAIN FREEPORT-MCMORAN GULF PROPERTIES
Topics:


Related Articles
TELEPAD DELIVERS TOTAL FIELD FORCE COMPUTING FOR BUSINESS AND GOVERNMENT
TELEPAD CORP. SAYS FOURTH QUARTER WILL BE COMPARABLE TO THE THIRD QUARTER
TELEPAD CORP. RECEIVES PURCHASE ORDER FOR ITS TELEPAD 3 NEW PRODUCT
TELEPAD 3 TO BE MANUFACTURED BY IBM
TELEPAD DISTRIBUTION GOES NATIONWIDE WITH REDITEC AGREEMENT; FIRST PHASE PUTS COMMITMENT TO NEW PRODUCT AT MORE THAN 1,000 UNITS
TELEPAD CORPORATION ANNOUNCES NEWS REGARDING PRODUCT AND SERVICES CONTRACTS
TELEPAD CORPORATION COMPLETES FINANCING
TELEPAD CORPORATION NASD APPEAL DENIED
TELEPAD CORPORATION ANNOUNCES PUBLIC OFFERING OF UNITS; RELISTING OF SECURITIES ON NASDAQ
TELEPAD CORPORATION SHIPS UNITS AFTER COMPLETING MANUFACTURING TRANSITION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters