WAYNE, Pa., and DALLAS, Jan. 20 /PRNewswire/ -- Safeguard Scientifics,
Inc. (NYSE:SFE), the New York Stock Exchange listed strategic information
systems company, and DocuCorp International jointly announced today that
DocuCorp has filed a registration statement with the Securities and Exchange
Commission for an initial public offering of approximately 6,400,000 shares of
DocuCorp common stock through a rights offering to Safeguard's shareholders.
Safeguard and DocuCorp anticipate that the rights will have an exercise
price of $5.00 per share and that the rights offering will commence in the
first quarter 1998. Safeguard shareholders will receive rights, exercisable
for approximately 35 days after issuance, to purchase one share of DocuCorp,
common stock for every five shares of Safeguard common stock owned. There
will be a minimum exercise requirement of 20 rights. The offering will be
made only by means of a prospectus, subject to the effectiveness of the
registration statement.
DocuCorp develops, markets and supports a portfolio of open-architecture,
enterprise-wide document automation software products that enable its
customers to produce complex, high-volume, customized documents. These
products are designed to create, publish, and store documents such as
insurance policies, utility statements, telephone bills, bank and mutual fund
statements, invoices, direct mail correspondence, bills of lading and other
customer-oriented documents. DocuCorp provides document automation consulting
and application integration services through a 145-person service
organization. DocuCorp also provides document processing and printing
services which utilize the company's software to provide solutions for
handling high-volume, complex print, finish and mailing for customers who
outsource this activity. DocuCorp has an installed base of approximately 700
customers, including seven of the ten largest life insurance companies, nine
of the ten largest property and casualty insurance companies, and many of the
largest utility companies in the United States. The company also provides
document automation software and services to the financial services, higher
education, telecommunications and transportation industries.
Safeguard is a unique partnership of entrepreneurial companies focused on
information technology markets. Safeguard has a proven track record of
bringing emerging companies to market through rights offerings to Safeguard
shareholders. Past Safeguard rights offerings include Novell, Inc., CompuCom
Systems, Inc., Cambridge Technology Partners (Massachusetts), Inc., Coherent
Communications Systems Corporation, USDATA Corporation, Integrated Systems
Consulting Group, Inc., Sanchez Computer Associates, Inc., Diamond Technology
Partners Incorporated, ChromaVision Medical Systems, Inc. and OAO Technology
Solutions, Inc. |
