Zoran Corporation Files for a Follow-On Equity Offering
(How does this differ from a 2ndary?????)
SANTA CLARA, Calif., Nov 18, 1999 (BUSINESS WIRE) -- Zoran Corporation
(Nasdaq NM: ZRAN), a provider of integrated circuits (ICs) and embedded
software for digital video and audio applications enabled by
compression, announced today that it has filed a registration statement
relating to a proposed follow-on equity offering of 3,000,000 shares of
common stock. Of the 3,000,000 shares of common stock being offered, 2,
500,000 are being offered by the company and 500,000 are being offered
by selling stockholders of the company. The company will also grant the
underwriters of the offering an option to purchase up to 450,000
additional shares of common stock to cover over-allotments, if any.
The shares will be offered by an underwriting group led by CIBC World
Markets and co-managed by Robertson Stephens, Salomon Smith Barney, and
SoundView Technology Group.
Zoran intends to use the net proceeds from this offering for general
corporate purposes, principally working capital and capital
expenditures.
Zoran Corporation develops and markets ICs and intellectual property
(IP) cores for digital audio and video applications enabled by
compression. Zoran also provides complete reference designs and
embedded software to enhance and accelerate the benefits of Zoran's
ICs. Zoran's product lines and IP cores include DVD and SVCD decoders,
system-on-a-chip digital still camera processors, JPEG codecs, video
codecs and digital audio processors. The Company's ICs are used in
numerous digital video and audio products. Leading applications
incorporating Zoran's products and IP cores include DVD and Super VCD
players, filmless digital cameras, professional and consumer video
editing systems, digital speakers and audio systems.
Zoran is headquartered in Santa Clara, California with additional
operations in Haifa, Israel, Toronto, Canada and offices in Tokyo,
Japan and Shenzhen, China.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission. These securities 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 a solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. A copy of the prospectus
relating to this offering may be obtained from:
CIBC World Markets Attention: Prospectus Department One World Financial
Center 200 Liberty Street New York, NY 10281
Robertson Stephens Syndicate 555 California Street, Suite 2400 San
Francisco, CA 94104
Salomon Smith Barney Attention: Prospectus Department 390 Greenwich
Street New York, NY 10013
SoundView Technology Group Syndicate 22 Gatehouse Road Stamford, CT
06902
The matters discussed in this news release are forward-looking
statements involving risks and uncertainties that could adversely
affect the success of the offering, including fluctuations in the
Company's market price, investor demand for the company's securities,
and risks relating to the Company's business as discussed in the
company's most recent quarterly report on Form 10-Q.
Distributed via COMTEX.
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CONTACT: Zoran Corporation
Karl Schneider, 408/919-4111
ir@zoran.com
www.zoran.com
or
The Carson Group
Kristen McCarthy, 415/617-2565 (Investors)
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA
INDUSTRY CODE: COMPUTERS/ELECTRONICS
HARDWARE
SOFTWARE
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