Friday October 24 11:40 AM EDT
Company Press Release
Software Publishing Corporation Holdings, Inc. Announces $1 Million
Private Placement
SAN JOSE, Calif., Oct. 24 /PRNewswire/ -- Software Publishing
Corporation Holdings, Inc. (Nasdaq:SPCO - news) (the ''Company'') today
announced that Howard Milstein, a prominent New York investor, has
purchased 865,000 shares of Common Stock of the Company. In addition,
four other investors also purchased an aggregate of 96,000 shares of
Common Stock. Each of these sales was a private transaction exempt from
the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof
and Rule 506 of Regulation D thereunder. The aggregated gross proceeds
were $1,021,543.
Barry A. Cinnamon, the Chairman, President and Chief Executive Officer
of the Company, remarked that ''we are very pleased to have a new, major
investor of the stature of Howard Milstein investing in the Company. We
believe that having an investor of this caliber involved with our
Company is a very strong vote of confidence. We look forward to working
together with Mr. Milstein wherever practicable to continue to improve
the Company's performance.''
In other developments, the Company also announced that Joseph V.
Szczepaniak has resigned as the Company's Vice President of Sales and
Marketing. Mr. Cinnamon stated that ''we wish Joe all the best in his
future endeavors. His assistance during his tenure at the Company has
been greatly appreciated.'' Maurice Hamoy, formerly the Company's Vice
President of Corporate Communications, has been elected as Vice
President of Marketing. Mr. Hamoy previously was Vice President of
Marketing of Inset Systems, Inc.
About the Company
Software Publishing Corporation Holdings, Inc., through its subsidiaries
Software Publishing Corporation, Serif Inc. and Serif (Europe) Limited
(collectively, ''Serif''), is an international developer, publisher and
supplier of proprietary computer software applications and companion
utilities programs, primarily targeted towards the visual communications
and presentation graphics, desktop publishing and business productivity
segments of the corporate and small office/home office (''SOHO'')
markets. The Company's products are designed to improve the graphical
appeal and overall effectiveness of documents produced by desktop
publishing, presentation graphics, web page, e-mail, word processing and
similar applications, as well as to produce documents through the
Company's easy-to-use desktop publishing and presentation graphics
applications. The Company's product lines include several products based
upon its patent-pending Intelligent Formatting technology, including
ActiveMail(TM), Active Presenter(TM), ASAP WordPower(TM), ASAP
WebShow(TM), ASAP(TM) and MailPlus(TM), as well as its traditional
products such as Serif PagePlus(TM), Serif DrawPlus(TM), Harvard
Graphics(R), Harvard ChartXL(R), Harvard Spotlight(R), Learn to Do(R)
Windows 95 with John C. Dvorak, and a line of interactive multimedia
products based on Entrepreneur(R) Magazine publications.
Safe Harbor Statement
Except for historical information contained herein, the matters set
forth in this news release are forward-looking statements that involve
certain risks and uncertainties that could cause actual results to
differ from those in the forward-looking statements. Potential risks and
uncertainties include such factors as the level of business and consumer
spending for computer software, the market acceptance and amount of
sales of the Company's products, the competitive environment within the
computer software industry, the ability of the Company to complete and
realize benefits from the integration of the operations of the Company
and its subsidiaries, the level and costs incurred in connection with
the Company's product development efforts and the financial strength of
the retail industry. Investors are directed to consider other risks and
uncertainties as discussed in documents filed by the Company with the
Securities and Exchange Commission.
The Harvard product line is a group of products having no connection
with Harvard University. All trademarks are the property of their
respective owners.
SOURCE Software Publishing Corporation Holdings Inc.
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