Tuesday September 14, 8:21 am Eastern Time
Company Press Release
$50 Million Initial Public Offering of Intellesale
PALM BEACH, Fla.--(BUSINESS WIRE)--Sept. 14, 1999--Applied Digital Solutions, Inc. (NASDAQ:ADSX - news) announced today that its subsidiary, Intellesale.com, Inc. has filed a registration statement with the Securities and Exchange Commission (SEC) in connection with its proposed initial public offering. In addition to Intellesale selling primary shares, Applied Digital expects to sell shares of Intellesale stock as a selling stockholder. Ladenburg Thalmann & Co. Inc. will act as lead manager in the offering and Punk, Ziegel & Company will act as co-manager.
Intellesale sells refurbished and new computer equipment and related components through its website at www.intellesale.com as well as through traditional channels which Intellesale is migrating to the Internet.
A registration statement relating to shares of Intellesale has been filed with the SEC but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The registration statement for Intellesale will be available from the SEC's website.
Applied Digital Solutions is a full service communications company that provides integrated products and services to a wide variety of businesses throughout North America. The Company is comprised of five business divisions which work together to meet the growing communication needs of its clients. For more information visit the Company's web site at adsx.com
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results.
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Contact:
Applied Digital Solutions, Palm Beach
Investor Relations, 561/366-4800 |
