Watch this leader re-test the highs.
Not likely very soon.
November 19, 1999 17:00
NextCard, Inc. Files Registration Statement for Follow-on Offering of Common Stock
SAN FRANCISCO--(BUSINESS WIRE)--Nov. 19, 1999--NextCard, Inc. (Nasdaq:NXCD), creator of The First True Internet Visa, announced today that it has filed a Registration Statement with the Securities and Exchange Commission for a follow-on public offering of up to 7 million shares of its Common Stock. Of these shares of Common Stock, NextCard will offer 3,500,000 shares and selling stockholders will offer 3,500,000 shares. In addition, the underwriters will be granted an option to purchase up to 15% percent of the final offering amount of additional shares of Common Stock solely to cover over allotments, if any. NextCard intends to use the net proceeds of the offering for general corporate purposes, including working capital, funding of credit card receivables and future capitalization of NextBank N.A., its limited purpose banking subsidiary.
All shares are being offered through a group of underwriters co-led by Donaldson, Lufkin & Jenrette Securities Corporation and Goldman, Sachs & Co. Additional managers include Thomas Weisel Partners LLC, Prudential Securities and U.S. Bancorp Piper Jaffray Inc.
NextCard is a leading Internet-based provider of consumer credit. The Company was the first to offer an online credit approval system for a Visa(R) card and to provide interactive, customized offers for credit card applications. The NextCard Visa, termed the First True Internet Visa, is marketed to Internet consumers through the Company's website, located at nextcard.com
When available, a written prospectus relating to the offering may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation, 277 Park Avenue, New York, New York 10172, (212) 892-3000; Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, (212) 902-1000; Thomas Weisel Partners LLC, One Montgomery Street, San Francisco, CA 94104, (415) 364-2500; Prudential Securities, 111 8th Avenue, 5th Floor, NY, NY 10011, (212) 776-8190; and U.S. Bancorp Piper Jaffray Inc., 222 South Ninth Street, Minneapolis, Minnesota 55402, (612) 342-6000.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. 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 such state or jurisdiction. |
