Wednesday December 23, 3:50 pm Eastern Time
Company Press Release
SOURCE: Net.B@nk, Inc.
Net.B@nk, Inc. Files Registration Statement For
Public Offering
ATLANTA, Ga., Dec. 23 /PRNewswire/ -- Net.B@nk, Inc. (Nasdaq: NTBK - news) announced today that it has filed a
registration statement with the Securities and Exchange Commission for a public offering of 2,370,000 shares of its common
stock. Of such shares, the Company will offer 2,000,000 shares and a certain shareholder of the Company will offer 370,000
shares. In addition, the Company will grant to the underwriters an option to purchase up to 355,500 additional shares solely to
cover over-allotments in the offering, if any. The net offering proceeds to be received by the Company will be used to fund an
increase in its marketing budget from approximately $650,000 for 1998 to approximately $3.6 million for 1999 and to provide
the additional capital required to support asset growth. Bear, Stearns & Co. Inc., Morgan Keegan & Company, Inc.,
Raymond James & Associates, Inc. and Kelton International Ltd. will act as the managing underwriters of the offering.
Net.B@nk™ (www.netbank.com), member FDIC, the Company's sole subsidiary, provides a broad range of consumer
banking and financial services over the Internet, including checking and money market accounts, certificates of deposit,
electronic bill paying, debit cards, credit cards, mortgage loans, business equipment leases and securities brokerage services.
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 may 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 in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
SOURCE: Net.B@nk, Inc. |
