NAVIDEC ANNOUNCES WARRANT CALL DENVER, Feb. 16 /PRNewswire/ -- Navidec Inc. (Nasdaq: NVDC), a provider of Internet-based auto buying and business solutions, today announced that on February 12, 1999, it mailed notice of a call regarding its 2,043,000 Redeemable Common Stock Purchase Warrants (Nasdaq: NVDCW).
Under the terms of the Warrants, Navidec can call the Warrants when its Common stock's closing price equals or exceeds $8.40 per share for
20 consecutive days. Each Warrant can be exchanged for one common share at a price of $7.20 per share. Navidec met these call-terms at the close of trading on February 5, 1999. Warrant holders have Until March 15, 1999, to exercise their Warrants. If all outstanding Warrants are exercised, the Warrant call will generate approximately $14.7 million to the Company, and
will increase outstanding common shares from approximately 5 million to
7 million.
Ralph Armijo, CEO and president of Navidec, said, "As a leading provider
of Internet solutions for Fortune 1000 companies and the automotive market,
Navidec has significantly increased its shareholder value in this explosive
marketplace. This increase allows us to call the Warrants and continue to
fund our aggressive growth plans in E-commerce web-based enterprise solutions
and online car buying."
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 automotive 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 USWheels.com 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.freeedgar.com
SOURCE Navidec Inc.
-0- 02/16/99
/CONTACT: Media: Andrea Pearson or Andy Mountain, of Navidec Inc.,
800-797-7565; or Broker Contact: Len Turano of TKO International,
303-850-7896/
/Web site: freeedgar.com
/Web site: navidec.com
(NVDC)"
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