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New IPO week of Aug 3,1998
Products
With SOFTWORKS SavanTechnology (SST), our arenas complement, optimize, extend, and provide innovative capabilities to the business - critical processes of systems management. SST solutions help exploit your opportunities in five critical IT areas.
softworks.com
FOR IMMEDIATE RELEASE
SOFTWORKS, INC. FILES REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING
Alexandria, Virginia - - June 1, 1998 - - SOFTWORKS, Inc., a subsidiary of Computer Concepts Corp. (NASDAQ:CCEE), announced today the filing of a registration statement with the Securities and Exchange Commission for an initial public offering of 4,200,000 shares of its common stock. 1,700,000 shares are being offered by SOFTWORKS and 2,500,000 shares are being sold by Selling Shareholders. Computer Concepts is anticipated to own approximately 70% of SOFTWORKS common stock upon completion of the offering.
Net proceeds from the sale of the common stock by SOFTWORKS will be used primarily for working capital and general corporate purposes. SOFTWORKS will not be receiving any proceeds from the sale of its common stock by the Selling Stockholders.
SoundView Financial Group Inc. and Raymond James & Associates, Inc. are co-managing the offering. The underwriters have an over-allotment option for the purchase of up to 625,000 additional shares from a Selling Shareholder.
This release contains forward looking statements which are based on current information and on management assumptions, and are subject to other important factors disclosed in the SOFTWORKS' registration statement filed with the Securities and Exchange Commission on May 29, 1998, and from time to time in Computer Concepts Corp. Form 10-K, Form 10-Q , Registration Statements and other Securities and Exchange Commission filings including specifically, among other factors, the nature of the public market when the SOFTWORKS' IPO commences, changing marketing and economic conditions, and acceptance of its SST and Year 2000 technologies.
SOFTWORKS, Inc., headquartered in Alexandria, Virginia, develops, markets, licenses and supports a family of enterprise systems management products for data and storage management and performance management. SOFTWORKS provides automated systems management solutions designed to optimize system and application performance, reduce hardware expenditures, and enhance the reliability and availability of the data processing environment for enterprises that employ primarily mainframe computing environments, and increasingly UNIX and Microsoftr Windows NTr ("NT"). SOFTWORKS believes that it has been a pioneer in the development of automated systems management solutions and that it is currently a leading vendor in this market. As of March 31, 1998, SOFTWORKS' products were licensed for use by 81 of the Fortune 100 companies.
Computer Concepts Corp., headquartered in Bohemia, New York, develops software tools including d.b.Express that assist end users in the retrieval and visualization of all types of data, and is an IBM Business Partner-Personal Computer Reseller. Computer Concepts' d.b.Express Internet Information ServerTM has recently been licensed by British Telecom, and has been integrated with British Telecom's Syncordia Services' C-View software application which will allow BT's customers to access and analyze the high volumes of technical and account information available within BT's Internet-based databases without having to download the data to their own computers. The new d.b.Express Internet Information ServerTM and JAVA Applet have overcome a major Internet problem, that of high data volume and limited bandwidth, currently responsible for the lengthy delays associated with data downloading.
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Copyright c 1998 Computer Concepts Corp.
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