Speaking of 8, what do you think of this?
March 07, 2000 17:28
Pacific Softworks Inc. Files Form S-8 Registration Statement
NEWBURY PARK, Calif.--(BUSINESS WIRE)--March 7, 2000--Pacific Softworks Inc. (Nasdaq:PASW)
today announced that on March 6, 2000, it filed Registration Statement on Form S-8, covering up to
1,927,924 shares of common stock, underlying options and warrants issued to employees, directors and
consultants.
In connection with its initial public offering of securities, completed in July 1999, the company agreed with
its underwriter to limit sales of securities registered on Form S-8 to no more than 25,000 shares per
quarter, without the prior consent of the underwriter. This agreement expires at the end of August 1999.
Under the company's 1998 Equity Incentive Program, employee stock options, as issued from time to
time, vest at a rate of 2% per month and become fully vested three years from the date of grant. Warrants
issued to certain consultants and the company's president provide for exercise only when the company's
common stock trades at or above $10.00 per share for 15 consecutive days. The warrants are for a term of
five years. |
