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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: LarryCPA who wrote (3051)	6/8/1999 10:14:00 AM
From: prolific	Respond to of 4467

US Interactive record date Safeguard Scientifics Announces Record Date and Terms for Directed <SFE.N> Safeguard Scientifics Announces Record Date and Terms for Directed Share Subscription Program for US Interactive IPO WAYNE, Pa., June 8 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE), the New York Stock Exchange-listed developer and operator of Internet technology companies, announced today that it has set a record date of June 18, 1999, for participation in its Directed Share Subscription Program (DSSP) for the initial public offering of common stock of US Interactive. -- In the DSSP for US Interactive, Safeguard shareholders will receive an offer to purchase 1 share of US Interactive common stock for each 20 shares of Safeguard common stock held as of the record date. As previously stated, the ratio in each DSSP may vary depending on the size of the offering. -- Safeguard expects that holders of at least 100 but fewer than 500 Safeguard shares will be able to purchase shares of a unit investment trust which will purchase shares of US Interactive in the IPO; the units should be able to be purchased for the same price as the US Interactive shares and in the same 1 for 20 ratio to shares of Safeguard held. -- Holders of at least 500 Safeguard shares will be able to purchase and hold directly in their accounts the US Interactive shares. -- Offers to Safeguard shareholders will not be transferable and may not be combined among accounts. -- Only Safeguard shareholders of record on June 18, 1999, will be able to participate in the DSSP. Based on regular settlement procedures, purchasers of Safeguard common stock after June 15, 1999, will not be able to participate in the US Interactive offering. There will be no ex-rights date as there had been in Safeguard rights offerings. -- Preliminary prospectuses and a detailed subscription offering are expected to be distributed during the second half of June 1999. Safeguard shareholders who hold their shares in brokerage accounts will be able to participate in the program regardless of whether their broker is a participant in the Internet Capital IPO offering group. Shareholders who are affiliated with a member of the NASD should consult their firms about any restrictions on participation in the DSSP. The offering price per share will not be set until the IPO commences, anticipated to be in July 1999. Once the offering size and price are established, participants in the DSSP will be required to submit their subscription and payment for receipt by the offering agent within four business days. Holders of 100 to 499 Safeguard shares will also receive information regarding the unit investment trust with the preliminary prospectus. Safeguard will send more information to you prior to the pricing of the IPO. A registration statement relating to the common stock of US Interactive 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 prior to the time the registration statement becomes effective. This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering will be made only by means of a prospectus, subject to the effectiveness of the registration statement. In addition, the ratio of shares offered to Safeguard shares held may be subject to reduction if the overall size of the offering is reduced. If the US Interactive offering is delayed or cancelled, the Safeguard DSSP will also be delayed or cancelled. About US Interactive US Interactive is an Internet professional services company that helps world class organizations capitalize on the business opportunities associated with the Internet. By combining business strategy, digital marketing and technology skills, US Interactive builds electronic enterprises using its proprietary e-Roadmap(TM) development plan, IVL(TM) Methodology, and CAPTURE -- an extranet relationship management tool. Founded in 1994 and headquartered in Philadelphia, US Interactive currently has more than 230 employees in six offices including Los Angeles; Murray Hill, N.J.; New York; Singapore; and Washington, D.C. About Safeguard Safeguard Scientifics, Inc. (www.safeguard.com) develops and operates rapidly growing information technology companies that together form a community of shared resources with a strategic emphasis in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. A long-term partner, Safeguard works closely with its partnership companies providing numerous operational and management services to build value in preparation for going public and beyond. Safeguard's partnership companies include privately held companies and public companies. Safeguard also assists in managing and working with several venture capital funds. SOURCE Safeguard Scientifics, Inc. -0- 06/08/99 /CONTACT: Michael Miles or Sandi Murtland of Safeguard Scientifics, 610-293-0600, or Investors, Jody Burfening of Lippert/Heilshorn & Assoc., 212-838-3777, for Safeguard Scientifics/ /Web site: safeguard.com -- PHTU010 -- 4843 06/08/99 08:24 EDT prnewswire.com Copyright PR Newswire 1998. All rights reserved.