New IPO. Get it while it's hot (g)
March 18, 1999
barnesandnoble.com FILES REGISTRATION STATEMENT WITH THE SECURITIES AND
EXCHANGE COMMISSION FOR INITIAL PUBLIC OFFERING
New York, NY (March 18, 1999) -- Barnes & Noble, Inc. (NYSE:BKS), the
world's largest bookseller, and Bertelsmann AG, today announced the filing
of a registration statement with the Securities and Exchange Commission
(SEC) for an initial public offering of Class A Common stock in
barnesandnoble.com. When publicly traded, the stock will be listed on the
Nasdaq national market under the symbol "BNBN." The on-line company will
offer approximately 15-20% of its shares to the public by a syndicate of
investment banks led by Goldman Sachs and Merrill Lynch.
The proceeds of the offering will be used to expand the company's growing
e-commerce business, including new systems and distribution initiatives;
acquisitions; and general corporate purposes. Marketing of the issue will
proceed soon after the amendment has been declared effective by the SEC.
Leonard Riggio, Chairman and CEO of Barnes & Noble, Inc., will serve as
Chairman of barnesandnoble.com. Jonathan Bulkeley will be Chief Executive
Officer and will report to the Chairman. He will be responsible for the
operations of the company, its financial performance, strategic
initiatives, and investor and shareholder relations. They are joined by a
seasoned e-commerce management team, many of whom have years of experience
in bookselling as well.
Although the registration statement has been filed, it 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 law of
any such state.
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