SOURCE: CheckFree Holdings Corp.
CheckFree Files Registration for Public Offering
ATLANTA, June 1 /PRNewswire/ -- CheckFree Holdings Corp. (Nasdaq: CKFR - news) today announced the filing of a registration statement with the Securities and Exchange Commission for a public offering of 3,500,000 shares of common stock.
The Company is offering 2,350,000 shares, while selling stockholders are offering 1,150,000 shares, 150,000 of which are being offered by a financial institution that has withdrawn from the Integrion Financial Network, L.L.C. (Integrion) and has been assigned a portion of the vested warrants in CheckFree formerly held by Integrion. The Company also will grant the underwriters an option to purchase 525,000 shares to cover over-allotments, if any. CheckFree intends to use the net proceeds from this offering for working capital and general corporate purposes.
The offering is being managed by Merrill Lynch & Co., BT Alex. Brown, Hambrecht & Quist and U.S. Bancorp Piper Jaffray. When available, prospectuses relating to the Company's offering of common stock can be obtained from Merrill Lynch & Co. at 250 Vesey Street, New York, NY 10281.
CheckFree Corporation (www.checkfree.com ), the operating subsidiary of CheckFree Holdings Corp., is the leading provider of financial electronic commerce services, software and related products. CheckFree designs, develops and markets services that enable nearly three million consumers to receive and pay bills over the Internet or electronically through a variety of bill aggregation points, including banks, brokerage firms, portals and interactive content sites on the Internet, and personal financial management (PFM) software. CheckFree's range of services and products are focused on enabling customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure Internet transactions. After more than a year of beta testing, CheckFree launched the nation's first fully integrated electronic billing and payment solution, CheckFree E-Bill, in March of 1997. Today, the Company has multi-year contracts with 49 of the nation's top billers to provide online billing and payment through the CheckFree distribution network. The Company is headquartered in Atlanta, GA, with operating facilities in Austin, TX, Baltimore, MD, Chicago, IL, Columbus, OH, and Jersey City, NJ.
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, before the registration statement becomes effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, nor will these securities be sold, in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of the state.
SOURCE: CheckFree Holdings Corp.
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