NextCard Announces Initial Public Offering; Shares Priced at
$20 Per Share
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NEW YORK, May 14 /PRNewswire/ -- NextCard(R), Inc. today announced that its initial
public offering of 6,000,000 shares of common stock has been priced at $20 per share. All
shares to be included in the offering will be newly issued shares of NextCard. The shares
will begin trading on the Nasdaq National Market under the ticker symbol "NXCD" on
May 14, 1999. The Company has granted the underwriters an option to purchase up to
900,000 additional shares pursuant to their over-allotment option. The offering is being
made through an underwriting group managed by Donaldson, Lufkin & Jenrette Securities
Corporation, Thomas Weisel Partners LLC, U.S. Bancorp Piper Jaffray Inc. and DLJ direct
Inc.
NextCard is a leading Internet-based provider of consumer credit. The Company was the
first to offer an online credit approval system for a Visa(R) card and to provide interactive,
customized offers for credit card applicants. The NextCard(R) Visa, termed the First True
Internet Visa, is marketed exclusively to Internet consumers through the Company's Web
site, located at nextcard.com.
Copies of the prospectus may be obtained from Donaldson, Lufkin & Jenrette Securities
Corporation, 277 Park Avenue, New York, New York 10172, (212) 892-3000, Thomas Weisel
Partners LLC, One Montgomery Street, San Francisco, CA 94104, (415) 364-2500, U.S.
Bancorp Piper Jaffray Inc., 222 South Ninth Street, Minneapolis, Minnesota 55402, (612)
342-6000 or DLJ direct Inc. through its Web site, located at dljdirect.com.
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 of qualification under the securities laws of
any such state.
CONTACT: Media: Michelle DesMarais of NextCard, Inc., 415-836-9792,
michelle.desmarais@nextcard.com, or Investors: NextCard Investor Relations,
415-369-5633, investorrelations@nextcard.com |
