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Technology Stocks : AMTI Owner of Cute FTP, 15000 downloads per day. -- Ignore unavailable to you. Want to Upgrade?

To: R.E.B. who wrote (52)	2/18/2000 4:09:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 55

Here's the reason for the pop today. Thanks again for this one. Why don't you start a new thread with the new symbol? American TeleSource Board of Directors Approves Public Offering Plan for GlobalSCAPE Inc. February 17, 2000 8:56 AM EST SAN ANTONIO--(BUSINESS WIRE)--Feb. 17, 2000--American TeleSource International Inc. "ATSI" (Amex: AI) today announced that its Board of Directors has approved a plan to spin-off a portion of its Internet subsidiary, GlobalSCAPE Inc., via a public offering of GlobalSCAPE common stock to common stockholders of ATSI and to registered users of GlobalSCAPE's software products. In addition, ATSI stockholders will be given a distribution of one share of GlobalSCAPE common stock for each 20 shares of ATSI common stock owned as of the record date. The Company has set a record date of March 15, 2000. The Company expects to complete the transactions by the end of its fiscal year, July 31, 2000. The terms of the plan are outlined below: -- Each ATSI stockholder of record on March 15, 2000, will receive one share of GlobalSCAPE common stock for every 20 shares of ATSI owned. -- ATSI stockholders of record on March 15, 2000, will be allowed to purchase 100 shares of GlobalSCAPE common stock for every 2,000 ATSI shares owned. Shares must be purchased in 100-share increments. -- A limited portion of GlobalSCAPE common stock will be offered to GlobalSCAPE's customers who have paid for and registered any GlobalSCAPE product as of March 15, 2000. -- The shares will be offered only by means of a prospectus.