AMERICA ONLINE ANNOUNCES INITIAL PUBLIC OFFERING
AMERICA ONLINE ANNOUNCES INITIAL PUBLIC OFFERING VIENNA, Va., March 19 /PRNewswire/ -- America Online, Inc.
announced today its initial public offering of 2 million shares of common stock, of which 970,000 have been offered by the company and 1,030,000 by selling stockholders. The price per share is $11.50.
The offering is being underwritten by a syndicate of underwriters and managed by Alex. Brown & Sons Incorporated and Robertson, Stephens & Company. The company and certain of the selling shareholders have granted the underwriters an option to buy an additional 300,000 shares solely to cover over-allotments, if any. America Online is the leading independent provider of online services to consumers in the United States. The company offers subscribers a wide variety of services, including electronic mail, conferencing, news, sports, weather, stock quotes, software, computing support and online classes. These services can be accessed from a broad range of personal computers using America Online's proprietary, icon-based, windowing software. Copies of the prospectus relating to these securities may be obtained by contacting Alex. Brown, Attention: Syndicate Department, 135 E. Baltimore St., Baltimore, Md., 21202; 410-727-1700. 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- 3/19/92 /CONTACT: Lennert J. Leader, chief financial officer of America Online, 703-448-8700/ CO: America Online, Inc. ST: Virginia IN: CPR SU: OFR
MK-MH -- DC012 -- 9654 03/19/92 11:53 EST
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|Date:||Mar 19, 1992|
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