Second public offering announced.
Monday June 8, 7:39 am Eastern Time
Company Press Release
Fundtech Ltd. Files Registration Statement For Public Offering
RAMAT GAN, Israel--(BUSINESS WIRE)--June 8, 1998--Fundtech Ltd. (Nasdaq: FNDTF - news) announced today that it has filed a Registration Statement with the Securities and Exchange Commission related to a proposed public offering of 3,500,000 Ordinary Shares. Of the 3,500,000 shares being offered, 2,500,000 are being offered by the Company and 1,000,000 are being offered by certain selling shareholders. The Company and selling shareholders have granted the underwriters an option to purchase 525,000 Ordinary Shares to cover over- allotments, if any.
The offering is being managed by BancAmerica Robertson Stephens, CIBC Oppenheimer Corp. and Lehman Brothers Inc. When available, a copy of the prospectus relating to the offering may be obtained from BancAmerica Robertson Stephens, 555 California Street, Suite 2600, San Francisco, CA 94104, 415/781-9700; CIBC Oppenheimer Corp., 1 World Financial, New York, NY 10281, 212/667-7000; or Lehman Brothers Inc., 3 World Financial Center, New York, NY 10285, 212/526-7000.
Fundtech designs, develops, markets and supports a suite of mission-critical, client/server software products which enable financial institutions and large business enterprises to electronically process payments, transfer funds and manage their cash positions. The Company's products are among the most technologically advanced and cost-effective electronic payments, funds transfer and cash management solutions. Fundtech's products electronically connect funds-transferring parties such as a bank to the Federal Reserve or a corporation to its bank, and enable such entities to effectively manage their cash positions. Fundtech's solutions, including its core products, FEDplu$,
PAY$tar, PAYplus RTGS and Access Banking, facilitate all aspects of the electronic payment cycle, including payment initiation, electronic balance reporting, account reconciliation, real-time account balance verification, and other sophisticated auditing and reporting functionality. The Company's proprietary innovative software architecture, based on the Windows NT and Unix operating systems, provide modular, scaleable, and secure solutions. Fundtech's solutions have been sold to more than 175 financial institutions, including ABN Amro Holdings, Bank of Tokyo, Chase Manhattan Bank, Fidelity Investments, JP Morgan Private Bank, Merrill Lynch, Swedbank, Visa International, and Washington Mutual, and are used by thousands of corporate end-users. Additional information on Fundtech can be found by visiting their website at www.fundtech.com.
A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. |
