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Technology Stocks : Intuit -- What's Its Future? -- Ignore unavailable to you. Want to Upgrade?

To: Barry Schoenhaut who wrote (1186)	5/22/1998 9:13:00 AM
From: Stuart Scolnik	Read Replies (1) \| Respond to of 1546

THIS IS TERRIBLE THE MARKET HATES MORE SHARES! Intuit Prices Public Offering MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 22, 1998--Intuit Inc. (NASDAQ:INTU - news) today announced the pricing of its public offering of 9.0 million shares of its Common Stock at $47.375 per share, increased from the 8.4 million shares previously announced. All of the 9.0 million shares were sold by the Company. Intuit has also granted to the underwriters of the public offering an option to purchase up to an additional 1.35 million shares to cover over allotments, if any. The Company intends to use the net proceeds primarily to fund the cash purchase price of the acquisition of Lacerte Software Corporation and a related services company, and for general corporate purposes. Deutsche Morgan Grenfell Inc. and Morgan Stanley Dean Witter are joint lead managers and joint book runners for the offering. BancAmerica Robertson Stephens, BT Alex. Brown, William Blair & Co., L.L.C., Hambrecht & Quist LLC, NationsBanc Montgomery Securities LLC and William Blair & Company, L.L.C. are co-managers.