To: Stockdoctor who wrote (3857 ) 1/13/1999 1:16:00 PM From: campe Read Replies (1) | Respond to of 122087
CNKT - I'm new to all this but here's my take... Smaller float was due to a 1:5 Reverse last Feb '98 Yahoo claims under 2M share float, just under 13M shares O/S but everyone associated with them is selling. This (old) IBM news and VISA rumour was probably orchestrated, IMHO, to absorb the insider selling.biz.yahoo.com edgar-online.com THE DATE OF THIS PROSPECTUS SUPPLEMENT IS DECEMBER 9, 1998 This Prospectus Supplement (the "Prospectus Supplement") supplements the Prospectus dated April 7, 1998 (the "Prospectus") of CONNECT, Inc. (the "Company") relating to the public offering (which is not being underwritten) and sale of up to 8,096,911 shares of Common Stock (the "Shares"), of the Company, which may be offered and sold from time to time by certain stockholders of the Company or by pledgees, donees, transferees or other successors in interest of such stockholders that receive such shares as a gift, partnership distribution or other non-sale related transfer (the "Selling Stockholders"). Norwest Equity Partners V, a Selling Stockholder ("Norwest"), has informed the Company that it may make a partnership distribution of certain shares of the Company's Common Stock held by Norwest. As a result of such distribution, Norwest Limited, Inc. may receive up to an aggregate of 1,097,972 shares of Common Stock, representing approximately 8.5% of the total outstanding shares of Common Stock of the Company (based on 12,893,843 shares outstanding as of November 11, 1998). In addition, certain other partners of Norwest may receive shares of Common Stock representing, in the aggregate, less than 1% of the total outstanding shares of Common Stock. As a result, Norwest Limited, Inc. and such other distributees would become Selling Stockholders under the Prospectus.