What's the news about Bear Stearns, the underwriter of ASDS stating that they made an OVER allotment of 750,000 shares??
Does that mean that they have to buy it back from the market?? In that case, the stocks gotto rise beyond belief ??? Am I reading this right??
V.M
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ASD Systems' Underwriters Exercise Over-Allotment Option
GARLAND, Texas, Nov. 17 /PRNewswire/ -- ASD Systems, Inc. (Nasdaq: ASDS) today announced that the underwriters associated with ASD Systems' initial public offering have exercised the option to purchase the entire 750,000 additional shares available to cover over-allotments. The underwriters are Bear Stearns & Co. Inc., Prudential Securities, Friedman Billings Ramsey and E*Offering. ASD Systems' common stock began trading on the Nasdaq National Market on Thursday, November 11, 1999 under the symbol "ASDS".
ASD Systems provides software and manages the infrastructure behind e-commerce. ASD's software and comprehensive service solution enables Internet retailers and direct marketing businesses to outsource their order management and fulfillment operations. ASD's software integrates clients' Web sites with multiple call centers, fulfillment centers and drop-ship vendors. Clients can also outsource their operations to ASD's integrated network of call centers and strategically located fulfillment centers. The ASD solution is priced on a per-transaction basis, reducing clients' initial costs and speeding their time to market.
Further information on ASD Systems Inc. can be found at asdsystems.com.
SOURCE ASD Systems, Inc.
CO: ASD Systems, Inc.
ST: Texas
IN: CPR
SU: OFR
11/17/1999 12:33 EST prnewswire.com |
