Jeffrey, WACP announces 4th IPO in the making...
After IPO's filings for Worldgate, Mpath and Rowe.com, WCAP now announces this new baby: Juno Online Services.
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--March 8, 1999--Winfield
Capital Corp. (WCAP-Nasdaq) announced today that one of its portfolio
companies, Juno Online Services, Inc. of New York, New York, ("Juno"
or the "Company"), has filed a registration statement with the
Securities and Exchange Commission for a proposed initial public
offering of its common stock.
The terms of the public offering have not yet been disclosed and
offers will only be made by prospectus. These securities may not be
sold nor may any offers to buy be accepted prior to the time the
registration statement becomes effective. This press release does not
constitute an offer to sell or the solicitation of an offer to buy the
common stock of Juno, nor shall there be any sale of the common stock
of Juno in any state in which such an offer, solicitation or sale
would be an unlawful prior to the registration or qualification of the
common stock of Juno under the securities laws of any such state.
Juno is a provider of Internet-related services to computer users
throughout the United States. The company offers several levels of
service, ranging from basic dial-up Internet e-mail--which is provided
to the end user for free--to full access to the World Wide Web.
Juno's revenues are derived primarily from the subscription fees
charged for certain billable services, from the sale of interactive
advertising, and from the direct sale of products to Juno subscribers.
Winfield Capital has purchased 1,178,304 shares of preferred
stock of Juno which are convertible (currently on a one for one basis)
into shares of common stock of Juno. The securities held by Winfield
Capital will be subject to restrictions on transferability.
Winfield Capital is a small business investment company which
makes loans and equity investments pursuant to funding programs
sponsored by the SBA and is a non-diversified, closed-end investment
company that is a business development company under the Investment
Company Act of 1940. Winfield Capital's common stock is traded on the
Nasdaq SmallCap market and the Boston Stock Exchange under the symbols
"WCAP" and "WNF," respectively.
This press release may contain forward-looking information within
the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934 (including the possibility
that Juno's registration statement will be approved, thereby
permitting Juno to sell shares of its common stock to the public
pursuant to such registration), and is subject to the safe harbor
created by those sections. Winfield Capital assumes no obligation to
update the information contained in this release.
--30--csm/ny
CONTACT: Winfield Capital Corp., White Plains
Paul A. Perlin, Chairman and CEO, 914/949-2600"
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