Something is up with NVDC. They just hired an investment banker:
01/20 12:58 Navidec Announces Investment Banking Agreement with Van Kasper &
<NVDC.O>
Navidec Announces Investment Banking Agreement with Van Kasper & Company
DENVER, Jan. 20 /PRNewswire/ -- Navidec Inc. (Nasdaq: NVDC), a provider of
Internet-based auto buying and business solutions, announced today it has
entered into an investment banking agreement with Van Kasper & Company, a San
Francisco-based investment banking and brokerage firm. Van Kasper will act as
an agent to Navidec in funding the company's aggressive growth plan.
Van Kasper raised $416 million through public offerings of equity and debt
in 1998, with an average deal size of $37 million. Since 1991, Van Kasper
raised over $1 billion for its clients in public markets.
Ralph Armijo, CEO and president of Navidec said, "As the Internet
continues to explode, Navidec expects to continue its accelerated growth.
Working with an investment banking firm of Van Kasper's caliber will help us
reach the next level and provide increased visibility for Navidec and its
Internet and E-commerce solutions."
Under the terms of the agreement, Navidec has agreed to engage Van Kasper
& Company as the company's exclusive financial advisor.
Van Kasper & Company, founded in 1978, is an investment banking, private
client and institutional brokerage firm with offices in San Francisco, Los
Angeles, San Jose, Fresno, Walnut Creek, Sacramento, San Diego and Newport
Beach, California, and Phoenix, Arizona. The company provides investment
research and is ranked among the top West Coast firms in terms of number of
transactions and total dollars raised in public offerings of common stock,
convertible securities and fixed-income instruments. Through its investment
management subsidiary Van Kasper Advisors, the company manages more than
$500 million for corporations, retirement plans, trusts, fiduciaries,
financial institutions and individuals. Van Kasper & Company also places
securities privately, advises clients on merger and acquisition transactions,
and performs valuation services.
Navidec Inc., based in Englewood, Colorado, is a leading national provider
of products and solutions that use web-based technologies to achieve its
customers' business objectives. From commercial web site development to the
design and implementation of intranet and extranet applications and tools,
Navidec helps customers develop successful online solutions. Navidec's
premier vertical market focus is on the automotive industry with its
USWheels.com, CarWizard.com and LeaseSource.com web sites. Navidec partners
with Bank One and regional media outlets to produce USWheels.com web sites in
markets nationwide. The company's web site address is www.navidec.com.
All statements in this press release, other than historical facts, are
forward looking statements. These statements are based on certain assumptions
and analyses made by Navidec in light of its experience and its perception of
historical trends, current conditions, expected future developments and other
factors it believes are appropriate under the circumstances. Such statements
are subject to a number of risks and uncertainties, including general and
economic business conditions, demand for automobiles, competition from other
automotive online services, market acceptance of the Wheels solutions, the
ability of Navidec to reach agreements with local media partners and other
risk factors indicated from time to time in Navidec's filings with the
Securities and Exchange Commission. Those filings are available online at
www.sec.gov.
SOURCE Navidec Inc.
-0- 01/20/99
/CONTACT: Media Contacts: Andrea Pearson or Andy Mountain of Navidec
Inc., 800-797-7565; or Broker Contact: Len Turano of TKO International
303-850-7896/
/Web site: navidec.com
-- LAW054 --
7669 01/20/99 12:42 EST prnewswire.com
Copyright PR Newswire 1998. All rights reserved. |
