OFFERING COMPLETED
PORTSMOUTH, NH--(BUSINESS WIRE)--June 21, 1999--Objective Communications, Inc. (Nasdaq: OCOMC), a leading provider of real-time network video communications solutions, announced that it has completed its offering of 2,000,000 units priced at $7.50 per unit. Each unit consists of three shares of common stock and two redeemable common stock purchase warrants. The units trade on the Nasdaq SmallCap Market under the symbol "OCOMU".
The lead underwriters of the offering are Southeast Research Partners, Inc. and Ladenburg Thalmann & Co., Inc. A copy of the prospectus related to the offering may be obtained from Southeast Research Partners, Inc., One State Street Plaza, New York, New York 10004, Telephone: (212) 208-6578.
Objective Communications designs, develops and markets the VidPhone system, a full-motion, high resolution, cost-effective video network system that uses the same wiring as the telephone. Users of the VidPhone video network system can view broadcast video from a variety of sources including direct broadcasts of "live" communications, satellite broadcasts and stored video, and participate in multi-party video conferences from desktop personal computers or conference rooms. With the introduction of Release 1.5 of the Company's VidPhone software, which the Company expects to occur in late June 1999, users also will be able to retrieve and view stored video on demand. The VidPhone system is designed to be compatible with existing video conferencing systems while offering additional features.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results and future events may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in the Company's most recent filings with the Securities and Exchange Commission.
CONTACT:
Objective Communications, Inc.
Robert H. Emery
VP, Finance and Administration
(603) 334-6741
or
Lippert/Heilshorn & Associates, New York
John Heilshorn/Vince Daniels
(212) 838-3777
KEYWORD: NEW HAMPSHIRE
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