Secondary Press Release:
Pittsburgh, Pennsylvania, February 13, 1998 - Today SEEC, Inc. announced the public offering of 1,310,000 shares of common stock at $20.00 per share. Of the total offering, 1,030,000 shares were newly issued by the Company and 280,000 shares were sold by selling shareholders. The proceeds of the offering will be used to develop the Company's international sales and marketing efforts, expand its domestic sales and marketing efforts, establish additional facilities, hire additional personnel,increase research and development for its enterprise solutions, increase capital expenditures and for working capital and other general corporate purposes. In addition, the Company may use a portion of the proceeds to develop or acquire businesses, products or technologies complementary to its current business.
The lead manager for the offering is UBS Securities and the co-managers are H.C.Wainwright & Co., Inc. and Cruttenden Roth Inc. The Company has granted the underwriters a 30-day option to purchase an aggregate of up to 196,500 additional shares from certain shareholders and the Company to cover over-allotments, if any.
A copy of the prospectus relating to this offering may be obtained at the following addresses: UBS Securities, 299 Park Avenue, New York, NY, 10171; H.C.Wainwright & Co., Inc., One Boston Place, Boston, MA, 02108; and Cruttenden Roth Inc., 18301 Von Karman, Irvine, CA, 92612.
SEEC, Inc. is an established leader in enterprise solutions for PC-based maintenance and redevelopment of COBOL and other legacy applications. Its suite of tools provides automated, cost-effective, integrated solutions for maintaining, enhancing and redeveloping host-based systems and, when combined with the Company's
Smart Change Factoryr methodology, provides a process for ensuring that legacy programs can recognize and process 21st century dates. SEEC's products currently support the major programming languages that account for 94 percent of the world's legacy applications, as well as the key databases that represent 90 percent of legacy
information, and new support is always being added in response to the market's demand. SEEC's tools are helping government agencies, utilities, manufacturing companies and financial and educational institutions achieve significant savings while extending the life-span and value of business-critical legacy applications.
Copyright 1998, SEEC, Inc. SEEC product names are trademarks of SEEC, Inc. All other products are trademarks of their respective companies.
|
