The "longer" version of the story....
"Monday December 6, 1:21 pm Eastern Time
Company Press Release
ACTV, Inc. Files Registration Statement for Follow-on Offering
NEW YORK--(BUSINESS WIRE)--Dec. 6, 1999--ACTV, Inc. (NASDAQ: IATV - news) today announced that it has filed a registration statement with the Securities and Exchange Commission for a follow-on offering of shares of its common stock. All shares will be offered by ACTV. The number of shares to be offered and the amount of the offering have not yet been determined.
ACTV anticipates offering these shares in the first quarter of 2000. The managing underwriters for this follow-on offering are Credit Suisse First Boston, Bear, Stearns & Co. Inc., Lehman Brothers and Salomon Smith Barney.
ACTV is a digital media company that has developed proprietary technologies, called ``Individualized Television' and HyperTV©. ``Individualized Television' enables television programmers and advertisers to create individualized programming for digital television. HyperTV enhances standard television content with information and interactivity delivered through the Internet. ACTV believes ``Individualized Television' is the only technology that enables viewers to instantly and seamlessly customize their viewing experiences. HyperTV is one of the first technologies to provide synchronized delivery of television programming and Internet content. ACTV intends to use the net proceeds from the sale of shares to repay indebtedness and for general corporate purposes, including working capital requirements.
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 the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
When available, a copy of the preliminary prospectus relating to this offering may be obtained from the offices of Credit Suisse First Boston Corporation, Eleven Madison Avenue, Attn: Prospectus Department, New York, NY, 10010-3629 (Telephone: 212-325-2580).
Disclaimer: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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Contact:
Mike Rosen
Bratskeir & Company
212-679-2233, ext. 213
mrosen@bratskeir.com"
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