News:
Friday June 18, 8:17 am Eastern Time
Company Press Release
Cybear Announces Public Offering of 3,000,000
Shares of Common Stock
BOCA RATON, Fla.--(BUSINESS WIRE)--June 18, 1999--Cybear, Inc.
(Nasdaq:CYBA - news) today announced that it has priced a secondary public offering of 3,000,000 shares of common stock at $16.00 per share. All of the shares were offered by Cybear. The shares will begin trading on June 18, 1999, on the Nasdaq National Market. The offering is expected to close on June 23, 1999. Warburg Dillon Read LLC, CIBC World Markets Corp. and Gruntal & Co., L.L.C. are the managing underwriters in the offering.
Cybear has granted the underwriters an over-allotment option to purchase up to an additional 450,000 shares of its common stock. This option may be exercised by the underwriters within 30 days following the pricing of the offering.
A copy of the prospectus related to this offering may be obtained from Warburg Dillon Read LLC, Syndicate Department, 299 Park Avenue, New York, NY 10171; CIBC World Markets Corp., Syndicate Department, 200 Liberty Street, 8th Floor, New York, NY 10281; and Gruntal & Co., LLC, Syndicate Department, One Liberty Plaza, 17th Floor, New York, NY 10006.
Cybear, Inc. (www.cybear.com) offers products and services using the Internet and Internet-based applications to improve the efficiency of day-to-day administrative and communications tasks of healthcare providers that interact to manage patient care. Cybear is developing its Solutions product line, a subscription-based Internet service provider system that provides Internet access and Internet-based applications to physicians, physician organizations, pharmacies and hospitals and allows them to obtain information from Cybear's web site and other Internet locations. In March 1999, Cybear introduced its first Solutions product, Solutions MD(sm), (www.solutionsMD.com), which addresses the communications and operational needs of physicians. Previously Cybear's common stock was traded on the OTC Bulletin Board as ''CYBR.''
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this report
that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of
the foregoing, words such as ''may,'' ''will,'' ''expect,'' ''believe,'' ''anticipate,'' ''intend,'' ''could,'' ''would,'' ''estimate,'' or ''continue'' or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
Contact:
Cybear, Inc., Boca Raton
Tamara Baker, 561/999-3333
tbaker@cybear.com
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