SLM Software ESP -- Buy/Build for $ -- PE 4.8 on 1999 ESP Message Board

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Technology Stocks : SLM Software ESP -- Buy/Build for $ -- PE 4.8 on 1999 ESP

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To: David Michaud who wrote ()	3/22/1999 11:26:00 PM
From: David Michaud	Read Replies (1) of 14

SLM Software enters agreement with InSight Capital Partners Mr. Govin Misir reports SLM Software Inc. has entered into a definitive agreement to raise up to $30.2-million (Canadian) in convertible and redeemable debentures and preferred shares by way of a private placement with InSight Capital Partners and its affiliates, a U.S-based global private equity investment firm. The financing is comprised of debentures convertible into $24,375,000 (Canadian) of non-voting convertible preferred shares, which are convertible into common shares at a conversion price of $6.50 (Canadian) per share, $5,825,000 (Canadian) of redeemable debentures and a three-year warrant for 250,000 common shares at $6.50 (Canadian) per share, subject to regulatory and shareholder approvals. The closing date is anticipated to be in late March 1999. The proceeds will facilitate the launch of SLM's electronic commerce network in the United States and to fuel the continued growth of the company. The investment by InSight represents SLM's first significant entry into the U.S. capital markets, and is consistent with SLM's objective to build strong relationships with the U.S. investment community and accelerate expansion of its business in the U.S. InSight Capital is impressed by SLM's management team, business strategy and technology. SLM's extensive e-commerce experience coupled with its ability to execute a well-defined growth strategy makes it an attractive investment opportunity with the potential to become a dominant player in the e-commerce industry. InSight Capital enables the company to continue its growth momentum and advance its U.S. expansion plans. InSight's expertise in high-growth software companies backed by their financial commitment reflects a meaningful endorsement of the company's business and investment potential. The company welcomes InSight as a valuable and knowledgeable investor and partner. InSight takes SLM Software one step closer to a NASDAQ listing this year and the company's objective to increase value for its shareholders. About InSight Capital Partners New York-based InSight Capital Partners is a private equity investment firm that invests in the software-based segments of the information technology industry. The firm is now one of the largest global investors in growing enterprise software and service companies. InSight has built a strong reputation for being a value-added partner to senior management of growing enterprise application software companies.

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