Well, I guess a split may not happen:
ITXC Files for Public Offering of Common Stock PRINCETON, N.J.--(BUSINESS WIRE)--Feb. 7, 2000--ITXC Corp. (NASDAQ: ITXC) announced today that it has filed a registration statement with the Securities and Exchange Commission for the sale of 4.0 million shares of common stock. Of the 4.0 million shares of common stock to be sold in the offering, 2.0 million shares are being sold by the Company and 2.0 million shares are being sold by selling stockholders. Lehman Brothers, CIBC World Markets, PaineWebber Incorporated, First Analysis Securities Corporation and Kaufman Bros., L.P. will serve as the managing underwriters. The underwriters will be granted an option for a period of 30 days to purchase up to an aggregate of 600,000 additional shares of common stock from certain selling stockholders and the Company to cover over-allotments, if any.
ITXC is a leading global provider of high quality Internet-based voice and fax services. It has developed and deployed ITXC.net(TM), an actively-managed network overlaid on the Internet. Its WWeXchange(R) Service provides international carriers, ISPs and Internet telephony service provides with international call completion over the Internet and enables them to offer their own customers phone-to-phone and PC-to-phone global voice services. ITXC's webtalkNOW! Service(sm) is an outsourced solution for portals, ISPs and other Internet companies offering web-based PC-to-phone calling to their customers. Carrier affiliates include China Telecom, Ameritech, Bell Atlantic, Global Telesystems (GTS), Colt Telecom, Interoute, Pacific Gateway Exchange and Korea Telecom, among others. 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. ITXC has included in this press release certain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the Company's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other factors, unanticipated technological difficulties, the volatile and competitive environment for Internet telephony, changes in domestic and financial estimates and projections and other considerations described as "Risk Factors" in the Company's filings with the SEC. All such forward-looking statements are current only as of the date on which such statements were made. ITXC does not undertake any obligation to publicly update any forward-looking statement to reflect events of circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events. --30--DES/ph* CONTACT: ITXC Corp. Edward B. Jordan, CFO, 609/750-3300 |
