Autoweb prices....Tuesday March 23, 12:07 am Eastern Time...
Company Press Release
SOURCE: Autoweb.com, Inc.
Autoweb.com Announces Initial Public Offering of 5,000,000 Shares of Common Stock at $14 Per Share
SANTA CLARA, Calif., March 22 /PRNewswire/ -- Autoweb.com, Inc. (Nasdaq: AWEB - news) today announced its initial public offering of 5,000,000 shares of common stock has been priced at $14 per share. The shares will begin trading on the Nasdaq National Market under the trading symbol ''AWEB'' on March 23, 1999. Of these shares, 4,900,000 shares of common stock were offered by the company and 100,000 shares of common stock were offered by two selling stockholders. The underwriting firms managing the offering were Credit Suisse First Boston Corporation, Hambrecht & Quist LLC, BancBoston Robertson Stephens, Inc. and U.S. Bancorp Piper Jaffray Inc. Autoweb.com intends to use the net proceeds from the offering to fund advertising and other promotions, capital expenditures, working capital and general corporate purposes.
Autoweb.com is a leading consumer automotive Internet service. The Web site centralizes an extensive collection of automotive-related commerce, content and community offerings to assist consumers in researching, evaluating and buying new and pre-owned vehicles. In addition, the company offers services that enable consumers to conveniently purchase automobile-related products and services such as vehicle insurance and financing.
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