Pacific Softworks Inc. Announces Initial Public Offering
Thursday, July 29, 1999 04:55 PM
NEWBURY PARK, Calif.--(BUSINESS WIRE)--July 29, 1999--Pacific Softworks Inc.(www.pacificsw.com) Thursday announced that its initial public offering of 950,000 units, consisting of 950,000 common shares and 950,000 warrants, priced at $5.25 per unit, has been deemed effective.
The shares and warrants are expected to begin trading on the Nasdaq Small Cap Market and will immediately trade separately under the ticker symbols PASW and PASWW, respectively.
Spencer Edwards Inc. has acted as underwriter for this offering. Following the offering, 4,250,000 shares of common stock will be outstanding. The company has also granted the underwriter a 45-day
option to purchase up to 142,500 shares of its common stock to cover over-allotments, if any.
Pacific Softworks develops and licenses Internet and Web-related software and software-development tools. The company's products enable Internet and Web-based communications in embedded displays and "Information Appliances" that are developed or manufactured by others.
Information appliances are Internet connected versions of everyday products such as telephones, vending machines, televisions, fax machines and other digitally based devices.
A copy of the prospectus relating to Pacific Softworks' offering may be obtained from the company or from Spencer Edwards Inc., 7041 S. Sycamore Way, Suite 305, Englewood, Colo., 80111; 303/740-8448.
CONTACT: Pacific Softworks Inc.
Georgette Pagano, 805/499-7722
www.pacificsw.com
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