To all SFE'ers
Subj: Safeguard Scientifics and DocuCorp International...
Date: 98-02-12 07:45:28 EST
From: AOL News
BCC: Bigkid53
Safeguard Scientifics and DocuCorp International Announce Anticipated Effective Date of February 24, 1998 for DocuCorp International Rights Offering
WAYNE, Pa., Feb. 12 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE), the New York Stock Exchange listed strategic information systems company, announced today that it anticipates that the registration statement filed by DocuCorp International, for an initial public offering of approximately 6,400,000 shares of DocuCorp Common Stock through a rights offering to Safeguard shareholders, is expected to become effective on February 24, 1998. Prospectuses and certificates evidencing the rights will then be mailed to holders of record as of February 23, 1998. If the effective date is delayed, the record date will be one business day before the new effective date.
It is anticipated that the ex-rights date for trading in Safeguard stock will be February 26, 1998. Safeguard shares traded before the ex-rights date will be traded with the rights. Persons owning Safeguard shares will receive one transferable right to purchase one share of DocuCorp Common Stock for every five shares of Safeguard common stock owned. Each right will entitle the holder to purchase one share of DocuCorp Common Stock at an anticipated price of $5.00. The rights will be exercisable during the 35-day period which is expected to commence February 24, 1998, and end March 31, 1998. There is a minimum purchase requirement of 20 shares of DocuCorp Common Stock. The rights and when-issued shares of DocuCorp have been approved for quotation on the Nasdaq National Market under the symbols DOCCR and DOCCV, respectively.
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.
Tucker Anthony Incorporated and Prudential Securities Incorporated will serve as standby underwriters for the offering.
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 prior to the time the registration statement becomes effective. This announcement does not constitute an offer to sell or a 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 registration or qualification under the securities laws of any such state. The offering will be made only by means of a prospectus, subject to the effectiveness of the registration statement, a copy of which may be obtained from Greg Rush at Tucker Anthony Incorporated, telephone number 617-725-1757, or Wayne Low at Prudential Securities Incorporated, telephone number 212-778-4743.
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.
SOURCE Safeguard Scientifics, Inc.
CO: Safeguard Scientifics, Inc.; DocuCorp International
ST: Pennsylvania
IN: HEA
SU: OFR
02/12/98 07:41 EST prnewswire.com
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