WorldGate Communications, Inc. (WGAT) Message Board

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Technology Stocks : WorldGate Communications, Inc. (WGAT)

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To: David Kaufman who wrote (350)	10/5/1999 6:35:00 PM
From: Benny Baga	Read Replies (1) of 589

WorldGate shareholders to sell less stock TREVOSE, Pa., Oct 5 (Reuters) - Internet service provider WorldGate Communications, Inc. said Tuesday it is asking the SEC to amend a secondary offering filed last month because fewer existing shareholders wish to sell their shares. WorldGate said while it still plans to sell 3.5 million shares total, stockholders will reduce the number of shares they are electing to sell from 1.75 million to 600,000, following a 180 day lock-up period. The company, which said less shareholders felt the need to sell, also said it does not know when the offering will begin. WorldGate's executive officers also will limit their sale of stock to 329,850 shares plus up to 72,450 additional shares if the underwriters exercise their over-allotment option. Shares of WorldGate were up 2-1/8 to 24-7/8 in Tuesday afternoon trading on the Nasdaq. biz.yahoo.com

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