Subj: Augment Announces Initial Public Offering of Common Stock and Redeemable Common
Date: 97-05-27 09:45:31 EDT
From: AOL News
WESTFORD, Mass., May 27 /PRNewswire/ -- Augment Systems, Inc.
(Nasdaq: AUGS), of Westford, Massachusetts has announced the completion of its
initial public offering on May 16, 1997 of 1.8 million shares of its common
stock at a price of $5.50 per share and 1.8 million Redeemable Common Stock
Purchase Warrants at $.15 per warrant. Each Redeemable Common Stock Purchase
Warrant entitles the holder to purchase one share of Common Stock for $6.60
during the four year period commencing May 12, 1998.
A copy of the final prospectus can be obtained from either GKN Securities
Corp. (61 Broadway; New York, NY 10006) or Laidlaw Equities, Inc. (100 Park
Avenue, New York, NY 10017), the underwriters for the public offering.
Augment manufacturers and distributes what is believed to be the graphic
communication industry's fastest available file server system. The AFX 410
delivers files to client workstations at rates up to 30 times faster than
standard local area network (LAN) systems and at access speeds faster than a
computer's hard disk drive by incorporating Fibre Channel Arbitrated Loop
(FC-AL) technology--an industry standard developed to provide faster file
transfer rates between workstations. FC-AL technology offers a bi-directional
one-gigabit/second bandwidth that works independently of the user's LAN. The
result is a faster channel for large files, similar to a freeway's fast or
carpool lane where the main throughway benefits from reduced congestion.
"The application of digital technologies to graphic communications is
straining server systems and networks with file sizes as large as 300 to
700 megabytes," said Lorrin Gale, President and CEO, Augment. "By augmenting
the existing environment with a faster channel, AFX 410 significantly enhances
the throughput of production files."
Augment Systems, Inc., headquartered in Westford, Massachusetts, designs,
develops and markets high-end Fibre Channel file server systems for moving
large image and data files rapidly and efficiently over computer networks.
The company's initial target markets are the electronic publishing
industry and the Internet/Intranet markets.
Augment is a trademark of Augment Systems, Inc. All other brand names,
trademarks, and registered trademarks are the property of their respective
owners.
SOURCE Augment Systems, Inc.
CO: Augment Systems, Inc.
ST: Massachusetts
IN: CPR
SU: OFR |
