(PR NEWSWIRE) WorldGate Communications, Inc. Announces Initial Public Offe
WorldGate Communications, Inc. Announces Initial Public Offering Of Common
Shares
BENSALEM, Pa., April 15 /PRNewswire/ -- WorldGate Communications, Inc.
today announced an initial public offering of 5,000,000 common shares at a
price of $21 per share through an underwriting syndicate managed by Gerard
Klauer Mattison & Co., Inc., Jefferies & Company, Inc., and Janney Montgomery
Scott Inc. The underwriters have been granted an option to purchase an
additional 750,000 common shares to cover any over-allotments.
The common shares have been approved for quotation on the Nasdaq National
Market System under the symbol "WGAT."
WorldGate Communications provides a new television-based Internet service,
the WorldGate(SM) Service, that offers high-speed, easy-to-use Internet access
to cable television subscribers without the need for a personal computer or
any additional set-top appliance. The Service is designed to operate using
standard advanced analog or digital cable set-top boxes. WorldGate Service
subscribers enjoy access within seconds to full-featured Internet
functionality and content on their television sets, as well as the ability to
dynamically link from television programming and advertising to related Web
sites. The Service is provided at low cost to subscribers and employs ultra
thin-client network architecture (patents pending) that allows for easy
deployment and setup, central system management, and centrally administered
upgrades.
The offering of WorldGate Communications' common shares is made only by
means of a prospectus. Copies of the prospectus relating to the offering may
be obtained from Gerard Klauer Mattison & Co., Inc., 529 Fifth Avenue, New
York, NY 10017; Jefferies & Company, Inc., 580 California Street, Suite 2080,
San Francisco, CA 94611; or Janney Montgomery Scott Inc., Three Rosemont
Business Campus, Suite 310, 919 Conestoga Road, Rosemont, PA 19010.
WorldGate's Web site is www.wgate.com.
CONTACT: Randall Gort of WorldGate Communications, 215-633-5105.
SOURCE WorldGate Communications, Inc.
-0- 04/15/99
/CONTACT: Randall Gort of WorldGate Communications, 215-633-5105/
/Web site: wgate.com
(WGAT)
CO: WorldGate Communications, Inc.
ST: Pennsylvania
IN: CPR TLS
SU: OFR
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