THE CONTINUUM COMPANY ANNOUNCES STOCK OFFERING
THE CONTINUUM COMPANY ANNOUNCES STOCK OFFERING AUSTIN, Texas, May 5 /PRNewswire/ -- The Continuum Company, Inc.
(NYSE: CNU) announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of its common stock. The offering includes a proposed sale of 500,000 newly issued shares by Continuum, a proposed resale of 1,500,000 outstanding shares by Continuum Holdings Co. L.P., a Texas limited partnership, and a proposed resale of 500,000 outstanding shares of common stock by three Australian entities. In addition, Continuum will grant the underwriters an option to purchase up 375,000 additional shares to cover over-allotments. It is anticipated that 80 percent of the shares will be offered in the United States and 20 percent will be offered internationally.
The managing underwriters for the U.S. and international offerings will be Lehman Brothers, Oppenheimer & Co., Inc. and Tucker Anthony Incorporated. The proposed sale is expected to commence in early June. The Continuum Company, Inc. is an international consulting and computer services firm based in Austin, Texas, serving the needs of life insurance, property and casualty insurance and other financial services companies for computer software and services. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement 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 registration or qualification under the securities laws of any such State. -0- 5/5/92 /CONTACT: John L. Westermann III of Continuum Company, 512-345-5700/ (CNU) CO: Continuum Company, Inc. ST: Texas IN: CPR SU: OFR
SH -- NY104 -- 6846 05/05/92 19:22 EDT
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|Date:||May 5, 1992|
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