ENGAGE TECHNOLOGIES, INC. ANNOUNCES PRICING OF INITIAL PUBLIC OFFERING
PR NEWSWIRE - July 20, 1999 07:41
ANDOVER, Mass., Jul 20, 1999 /PRNewswire via COMTEX/ -- Engage Technologies, Inc. (Nasdaq: ENGA), a provider of profile driven Internet marketing solutions and services and a majority-owned subsidiary of CMGI, Inc. (Nasdaq: CMGI), today announced it has priced its initial public offering of 6,000,000 shares of common stock at $15.00 per share. The initial filing range was between $9.00 and $11.00 per share.
All of the shares were offered by the Company. The shares will begin trading today on the Nasdaq National Market. The offering is being managed by Goldman, Sachs & Co., Hambrecht and Quist and Bear, Stearns & Co. Inc. The Underwriters have an option to purchase up to 900,000 additional shares from the Company for the purpose of covering overallotments, if any.
Copies of the prospectus relating to the offering may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004; Hambrecht & Quist, One Bush Street, San Francisco, CA 94104; and Bear, Stearns & Co., Inc., 245 Park Ave, New York, NY 10167.
A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. 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 the registration or qualification under the securities laws of any such state.
About Engage: Engage, a majority-owned subsidiary of CMGI, Inc., (Nasdaq: CMGI), isa provider of profile driven Internet marketing solutions and services. Engage offers a range of software products and services that enable Web publishers, advertisers and merchants to target and deliver advertisements, commerce and e-commerce offerings to their audiences and to measure their effectiveness. Engage's core product and services include Engage Knowledge, a database that currently contains more than 30 million anonymous consumer profiles, and Accipiter AdManager, an online advertising management system that automates the scheduling, targeting and delivery of ads on Web sites and the reporting of campaign results. Additionally, Engage offers Web traffic verification, measurement and analysis, and research through its wholly-owned subsidiary, I/PRO. For more information about Engage, please visit www.engage.com.
About CMGI: A recognized leader in the Internet economy, CMGI (Nasdaq: CMGI) hasbuilt a substantial base of Internet operating companies and, through its @Ventures affiliates, has invested in a growing portfolio of synergistic Internet enterprises which enhance the value of its core holdings. This unique method of generating equity for its shareholders is what CMGI calls "creating net value." Microsoft, Intel and Sumitomo hold minority positions in CMGI.
CMGI's majority-owned subsidiaries include Activerse, Adsmart, Engage, iCast, Magnitude Network, NaviSite, NaviNet, Planet Direct and ZineZone. The Company's @Ventures affiliates have ownership interests in Lycos, Inc., Critical Path, Silknet, Ancestry.com, Asimba, blaxxun, BizBuyer.com, CarParts.com, Chemdex, eCircles.com, Furniture.com, HotLinks, KOZ.com, MotherNature.com, NextMonet.com, NextPlanetOver.com, OneCore.com, ONElist, Productopia, Promedix.com, Raging Bull, Softway Systems, Speech Machines, ThingWorld.com, Universal Learning Technology, Vicinity, Virtual Ink andVisto
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