I wonder what, if anything, this might mean for Medsite.com??
Medscape Postpones Initial Public Offering Due to Market Conditions
Story Filed: Wednesday, August 11, 1999 11:43 AM EST
NEW YORK, Aug 11, 1999 (BW HealthWire via COMTEX) -- Medscape, Inc., which operates Medscape.com, a provider of authoritative health and medical information on the Internet, said today that it is postponing its planned initial public offering of 5,400,000 shares of Common Stock due to market conditions.
Medscape President and CEO Paul Sheils said the company will continue to evaluate market conditions with the possibility of proceeding with the offering at a future date.
The decision to postpone the offering was made in conjunction with the managing underwriters: Donaldson, Lufkin & Jenrette; Credit Suisse First Boston; Bear, Stearns & Co. Inc.; Wit Capital Corporation and DLJdirect Inc.
ABOUT MEDSCAPE Medscape currently operates Medscape.com, a healthcare Web site that provides comprehensive, authoritative and timely medical information and interactive programs to physicians, allied healthcare professionals, such as pharmacists and nurses, and consumers. Medscape offers a wide range of high-quality medical information, including original authoritative articles written by renowned medical experts. Medscape also offers what is believed to be the Web's largest collection of free, peer-reviewed, full-text medical journal articles and one of the Web's most extensive libraries of continuing medical education accredited programs. Medscape supplements its medical content with a variety of non-medical information, community features and interactive programs that make Medscape.com a full-service healthcare destination Web site. As of June 30, 1999, Medscape.com had more than 1.2 million registered members worldwide, including 210,000 registered as physicians, 600,000 registered as allied health professionals and 400,000 registered as consumers.
On July 26, 1999, a revised registration statement relating to the securities proposed to be sold by Medscape, Inc. in an offering was filed with the Securities and Exchange Commission, but has not yet become effective.
Note: This release does not constitute an offer to sell or the solicitation of an offer to buy any securities proposed to be sold by Medscape in the offering, which will be made by means of a prospectus relating to those securities. The securities proposed to be sold by Medscape in the offering may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sales 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.
Copyright (C) 1999 Business Wire. All rights reserved.
CONTACT: Medscape
David Fluhrer
212/760-3138
david--fluhrer@mail.medscape.com
or
Lippert/Heilshorn & Associates
John Nesbett or Mary Ellen Adipietro
212/838-3777
jgn@lhai.com/mary@lhai.com
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