Dauphin Technology Signs $100 Million Financing Package Through Ladenburg Thalmann & Co., Inc
PALATINE, Ill.--(BUSINESS WIRE)--April 28, 2000--Dauphin
Technology, Inc. (OTC.BB:DNTK) today announced the signing of a $100
Million equity line with Techrich International Limited, through the
New York Investment Banking Firm, Ladenburg Thalmann & Co. Inc.
(http://www.Ladenburg.com). The funds available through the equity
line will be used primarily for the production and marketing of the
Set-Top Box under the recently awarded $500 Million Set-Top Box
Contract, the Orasis(TM) product line and potential acquisitions.
The Company may utilize the equity line to draw down up to $100
million over the next 18 months. This gives the Company the
opportunity and flexibility to better plan its financial needs and
lock in more favorable stock prices during stable market conditions.
Equally important is Dauphin's ability to control dilution by
accessing funds in stages, only when needed, during the 18-month
period. The financing strengthens Dauphin's position with affiliated
suppliers and allows it the ability to broaden market penetration
throughout the Americas, as well as around the world.
The share price for each draw down by Dauphin is based on a
22-day average trading price of the Company's common stock during the
applicable period. The Company may draw down the capital in
installments of up to $10 million monthly.
A Registration Statement has been filed with the SEC to register
an adequate amount of shares to potentially be used toward several
draw downs. The filing also includes registration of additional shares
required for the fulfillment of prior obligations, including the
Company's recent Private Placement. The Registration Statement
relating to these shares has not yet become effective. The shares may
not be sold nor may offers to buy be accepted prior to the time the
Registration Statement becomes effective. This shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the shares 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.
Ladenburg Thalmann is one of the oldest and most respected
investment banking firms in the world, formed in the mid 1800s. The
firm has distinguished itself as one of the most respected private
merchant banks. Today Ladenburg Thalmann is a full service financial
institution that meets the varying investment needs of corporate,
institutional and individual clients. The firm is headquartered in New
York with branch offices in Florida, Massachusetts and Ohio.
Dauphin Technology, Inc., a Palatine, Illinois based company with
its manufacturing facility in McHenry, Illinois, RMS, develops
manufactures and markets broadband communication products and
hand-held computers including its flagship product, the Orasis(TM). |
