TERN--Terayon Announces Record Date for Two-for-One Stock Split
BUSINESS WIRE - April 11, 2000 18:13
SANTA CLARA, Calif., Apr 11, 2000 (BUSINESS WIRE) -- Terayon Communication Systems, Inc. (Nasdaq:TERN), a leading supplier of broadband network systems, today announced that its stockholders approved an increase in the number of authorized shares of the company's common stock.
This will allow Terayon to proceed with the two-for-one stock split of the company's common stock, previously approved by the company's Board of Directors and announced on February 10, 2000.
The stock split will be effected in the form of a stock dividend, and stockholders of record at the close of business on April 25, 2000 will be entitled to one additional share of common stock for each outstanding share of common stock held on that date. The additional shares are expected to be distributed by the company's transfer agent on or about May 5, 2000, and the company expects its common stock to begin trading on a split-adjusted basis on or about May 8, 2000.
Terayon Communication Systems provides innovative broadband networking solutions for advanced broadband voice, data and video services. The company's cable data access systems, digital video systems, and broadband telephony systems are deployed by leading cable operators worldwide. The company's xDSL access systems deliver innovative telephony and data solutions for the growing SOHO business market. Terayon, based in Santa Clara, Calif., USA, has sales and support offices worldwide, and is traded on the Nasdaq under the symbol TERN. Terayon can be found on the web at www.terayon.com.
"Safe Harbor" Statements under the Private Securities Litigation Reform Act of 1995:
Except for the historical information contained herein, this news release contains forward-looking statements, estimates, and assumptions by the company and other parties that involve risks and uncertainties, including the company's ability to successfully integrate any acquired companies, the company's ability to gain new business and develop and offer new products, the expansion of operations by the company's customers and the deployment of the company's products in specific markets, as well as the other risks detailed from time to time in the company's filings with the SEC.
Note to Editors: Terayon, the Terayon logo, TeraPro, TeraLink, and TeraComm are registered trademarks of Terayon Communication Systems, Inc. TeraView and CherryPicker are trademarks of Terayon Communication Systems, Inc. All other trademarks are property of their respective owners.
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Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: Terayon Communications Systems, Inc. Ray M. Fritz, 408/919-5806 (Chief Financial Officer) rfritz@terayon.com John Hamburger, 408/486-5273 (Press Contact) Group Director, Corp. Communications johnh@terayon.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: TELECOMMUNICATIONS
INTERNET
NETWORKING
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