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NETWORK IMAGING COMPLETES $35 MILLION PREFERRED OFFERING

 HERNDON, Va., Dec. 7 /PRNewswire/ -- Network Imaging Corporation, Inc. (NASDAQ-NMS: IMGX), said it completed an offering of 1.4 million Series A Cumulative Convertible Preferred shares at $25 a share through its underwriters, RAS Securities Corp. and Starr Securities, Inc.
 The issue pays a cumulative annual dividend of 8 percent, payable quarterly, and is convertible into the company's common shares at any time prior to redemption at a conversion price of $13.80, or 1.81 shares of common for every share of the Series A Convertible Preferred.
 Gross proceeds of the offering, before any expenses or exercise of over-allotments, was $35 million.
 The new issue trades on the NASDAQ National Market System under the symbol IMGXP. The company's common stock and warrants are also now trading on the NASDAQ National Market System under the symbols IMGX and IMGXW.
 -0- 12/7/93
 /CONTACT: Robert P. Bernardi, chief executive officer of Network Imaging Corporation, 703-478-2260; or Thomas Redington of Redington, Inc., 203-222-7399 or 212-926-1733/
 (IMGX)


CO: Network Imaging Corporation ST: Virginia IN: SU: OFR

WB-TW -- NY081 -- 1407 12/07/93 15:57 EST
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Publication:PR Newswire
Date:Dec 7, 1993
Words:183
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