Mark,
This is the story.
SANTA CLARA, CALIF. (Oct. 9) BUSINESS WIRE -Oct. 9, 1996--
Phoenix Maintains 13.2% Stake in Xionics
Phoenix Technologies Ltd. (NASD: PTEC), a leading supplier of standards-based compatibility software for the PC industry, announced today that it has sold 500,000 shares of common stock of Xionics Document Technologies, Inc. (NASD: XION) in Xionics' initial public offering.
The shares were sold on Sept. 26, 1996 at the initial public offering price of $12 per share less 7% for underwriters' discounts and commissions. Xionics sold 2.5 million shares of common stock in the offering.
Xionics and Phoenix granted the underwriters in the offering an option to purchase an additional 375,000 and 75,000 shares, respectively, at the same initial public offering price per share. The underwriters exercised this option on Oct. 7, 1996.
Following these sales, Phoenix owned 1,380,381 shares, or 13.2%, of the outstanding Xionics common stock.
Xionics Document Technologies, Inc. is a leading developer and marketer of innovative software and silicon for printing, scanning, copying, processing and transmitting paper documents to computer peripherals. Xionics partners with the industry's leading original equipment manufacturers (OEMs) to develop peripherals that provide the performance, output quality and network connectivity for today's office computing market.
Xionics also markets, through a worldwide distribution channel, board-level image printing, scanning and viewing acceleration products for production document imaging applications. Xionics' corporate headquarters is based in Burlington, Massachusetts, with offices in Japan, Germany and the United Kingdom.
Effective Sept. 30, 1994, Phoenix sold to Xionics its PhoenixPage business unit, which developed advanced embedded software for laser printers and other peripheral devices emulating the industry-standard PostScript(R) and PCL printer languages.
Phoenix Technologies Ltd. is the world's largest supplier of standards-based compatibility software to the personal computer industry. The company's system-level software products, such as PhoenixBIOS(TM) for desktops, NoteBIOS(TM) for portables, and ServerBIOS(TM) for servers, allow PC manufacturers to increase product differentiation, reduce product cycle time to market as well as cut internal engineering costs.
Phoenix provides a line of products and services for Special Purpose PCs and interconnect standards including PC Cards/CardBus, Universal Serial Bus and other emerging interfaces. Phoenix's expanding family of software products includes CyberMedia Inc.'s award-winning FirstAid 95 Deluxe that allows PCs to automatically repair hardware and software problems. Information on all Phoenix Technologies' products is available on the World Wide Web at: ptltd.com.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Additionally Xionics owed a note, for 2.2 million to PTEC, which it is my understanding that it is to be paid from the proceeds of the sale. The note and the Xionics stock was held on the books of Phoenix at $0.00 value!
Good investing,
Marc |
