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TJ SYSTEMS CORPORATION FILES SEC REGISTRATION FOR PUBLIC OFFERING

 HAUPPAUGE, N.Y., June 14 /PRNewswire/ -- TJ Systems Corporation (NASDAQ: TJSY) today announced the filing of a registration statement with the Securities and Exchange Commission covering a proposed public offering of 500,000 shares of its Series A convertible preferred stock. Paulson Investment Company will act as the managing underwriter.
 The shares of Series A preferred stock will have a liquidation preference of $10 per share, be convertible into shares of the company's common stock and yield dividends at an annual rate of $1.00 per share. Upon conversion of the shares of Series A preferred stock, the holder will receive warrants to purchase additional shares of common stock. It is expected that the shares will be offered to the public at a price of $10 per share and that the offering will take place in July 1993.
 The company, through its wholly owned subsidiary, TJ Computer Services, Inc., is engaged primarily in the leasing of a wide variety of computer and telecommunications equipment it owns to large corporations, such as The Hertz Corporation, Tiffany & Co., Bed Bath & Beyond and Grumman Aerospace, which have extensive information and teleprocessing needs.
 A registration statement relating to the common stock to be offered 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 communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales 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- 6/14/93
 /CONTACT: Theodore J. Orlando, chairman and CEO of TJ Systems, 516-273-9130, or Anthony J. DiMaio, investor relations of Anthem Communications, 212-943-8998, for TJ Systems/
 (TJSY)


CO: TJ Systems Corporation ST: New York IN: CPR SU: OFR

TS-PS -- NY013 -- 1418 06/14/93 08:16 EST
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Publication:PR Newswire
Date:Jun 14, 1993
Words:338
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