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UOL Publishing completes initial public offering of 1,430,000 shares of common stock.

MCLEAN, Va.--(BUSINESS WIRE)--Nov. 26, 1996--UOL Publishing Inc. (Nasdaq: UOLP), formerly University Online Inc., today announced it has completed its initial public offering of 1,430,000 shares of common stock, at a price of $13 per share.

In addition, the company has granted the underwriters a 30-day option to purchase up to 214,500 shares of common stock solely to cover over-allotments. The offering was made through an underwriting group managed by Friedman, Billings, Ramsey & Co. Inc. The proceeds of the offering will be used for repayment of debt, potential acquisitions, working capital and other general corporate purposes.

UOL Publishing Inc. is a provider of high quality, interactive and on-demand educational courseware for the online education and training markets.

This press release shall not constitute an offer to sell nor 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.

Copies of the final prospectus relating to the offering may be obtained from Friedman, Billings, Ramsey & Co. Inc., Potomac Tower, 1001 19th Street, North, 10th Floor, Arlington, VA, 22209-1709.

CONTACT: G.S. Schwartz Investor Relations

Carl Hymans/Danielle Della Pella

212/725-4500

e-mail: ddp@schwartz.com
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 26, 1996
Words:220
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