Another HCOM-type company planning an IPO. Will be interesting to see how their business and valuation compares to HCOM. As the IPO date approaches, HCOM might turn into a sympathy play.
Online Resources Registers for Initial Public Offering
MCLEAN, VA. (March 22) BUSINESS WIRE -Mar. 22, 1999--Online Resources & Communications Corporation today announced that it has filed a registration statement on form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering of common stock.
J.P. Morgan & Co. is acting as lead manager and bookrunner for the offering. U.S. Bancorp Piper Jaffray and Keefe, Bruyette & Woods are serving as co-managers. Patton Boggs LLP and Michaels, Wishner & Bonner, P.C. are serving as legal counsel to the company.
McLean, Va.-based Online Resources & Communications Corporation is a leading provider of electronic commerce services to regional and community financial institutions that brand the services for their consumer and small business customers. Proprietary services include Internet and remote banking and billpaying services. The company also offers access to complementary financial products, such as online loan approval, insurance, investment information and securities trading.
Online Resources operates a call center and provides consumer co-marketing services, including a BankOnline.com Web site to direct potential consumers to its client institutions. Its end-to-end single source solution operates substantially in real-time. The company, founded in 1989, is privately-held and serves more than 325 financial institutions nationwide.
A copy of the preliminary prospectus relating to the securities may be obtained when available from J.P. Morgan Securities Inc., 60 Wall
Street, New York, N.Y. 10260.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but 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 communication 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 laws of any such state.
-0- bc/ch*
CONTACT: Online Resources & Communications Corporation, McLean
George E. Northup, 703/394-5100
Griendling Communications
Robert Griendling, 703/978-4686
KEYWORD: VIRGINIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS BANKING |
