Shareholders meeting & A bit more news about Orbcomm offering.
Dave and everyone:
Say somebody who attended the meeting give us synopsis here on the
board please.
Ref:ORBCOMM IPO.
ORBCOMM CORPORATION PLANS PUBLIC OFFERING OF ITS COMMON STOCK
Herndon, VA, April 21, 1998 - ORBCOMM Corporation today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of $125 million of its common stock. All shares of common stock offered are to be issued and sold by the Company. The Company was organized for the sole purpose of investing in and acting as a general partner of ORBCOMM Global, L.P. ("ORBCOMM"). Bear, Stearns & Co. Inc. and J.P. Morgan & Co. will manage the underwriting as joint lead managers and joint book runners. The registration statement also covers additional shares that will be subject to an option to be granted to the underwriters to enable them to cover over-allotment in the offering, if any.
ORBCOMM provides two-way monitoring, tracking and messaging services through the world's first commercial low-Earth orbit satellite-based data communications system. ORBCOMM believes that it will provide a reliable, cost-effective method of providing fixed asset monitoring, mobile asset tracking and messaging services to a broad range of customers around the world, enabling customers to collect data from multiple locations, track assets on a global basis and transmit and receive short text messages outside the coverage area of other communications systems.
A registration statement relating to these securities 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 press release 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. Copies of the prospectus relating to the offering may be obtained when available from Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167 and J.P. Morgan & Co., 60 Wall Street, 31st Floor, New York, NY 10260-0060
Contact: Wende Cover Devan Nagle
ORBCOMM Corporation Shandwick
703-406-5774 410-558-2100
cover.wende@orbcomm.com dnagle@shandwick.com |
