Here's why we're tanking today, if anyone cares:
Wednesday February 24, 1:03 pm Eastern Time
Company Press Release
Novellus Systems Announces Public Stock Offering
SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 24, 1999--Novellus Systems Inc. (Nasdaq NM: NVLS - news) Wednesday announced its intention to offer to the public up to 3,500,000 shares of its common stock through its underwriter, Hambrecht & Quist LLC.
The offering will be made only by means of a prospectus. The company has granted the underwriter a 30-day option to purchase up to 525,000 additional shares of common stock solely to cover over-allotments, if any. The shares will be offered pursuant to a previously filed and effective shelf registration statement. Novellus intends to use the net proceeds from the sale of its shares for general corporate purposes. Copies of the prospectus may be obtained from Hambrecht & Quist LLC, One Bush Street, San Francisco, Calif., 94104 or 230 Park Avenue, New York, N.Y., 10169.
Novellus Systems manufactures, markets, and services advanced automated wafer fabrication systems for the deposition of thin films. Novellus deposition systems are designed for high-volume production of advanced, leading-edge semiconductors at the lowest overall cost. The company's stock trades on the Nasdaq Stock Market's National Market under the symbol ''NVLS.'' Additional information about the company is available on the Novellus Systems' home page on the World Wide Web, located at novellus.com.
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