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Technology Stocks : OneMain.com (ONEM) -- Ignore unavailable to you. Want to Upgrade?

To: purecntry5 who wrote (1)	3/24/1999 6:08:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 614

Tomorrow. It has been priced at $22 per share and Bob Dole has joined the board. I'm impressed. biz.yahoo.com Wednesday March 24, 5:13 pm Eastern Time Company Press Release OneMain.com Raises $187 Million in Initial Public Offering Robert J. Dole to Join OneMain.com as Board Member NEW YORK--(BUSINESS WIRE)--March 24, 1999-- OneMain.com today announced that its initial public offering of 8,500,000 shares of common stock has been priced at $22.00 per share. The initial public offering raised gross proceeds of $187 million. The shares will begin trading tomorrow on the Nasdaq National Market under the trading symbol ''ONEM''. The Company has granted the underwriters an option to purchase up to an additional 1,275,000 shares of common stock to cover over-allotments. OneMain.com also announced that former Senate Majority Leader, Robert J. Dole, will join the Company as a member of the Board of Directors. ''We are excited by investor enthusiasm for our initial public offering. We see great opportunities in the Internet service business, and believe our strategy of focusing on serving customers in markets located predominantly outside of large metropolitan areas will allow us to grow our subscriber base,'' commented Stephen E. Smith, President and Chief Executive Officer of OneMain.com. Smith added, ''Separately, we are pleased to announce Bob Dole will join OneMain.com as a member of our Board of Directors. We are confident that the knowledge, experience and relationships Bob brings to OneMain.com will help us grow our business.'' Dole, commented, ''I am excited to help direct the future of OneMain.com. Internet access continues to be an invaluable resource to enhancing the lives and personal growth of individuals across the country. OneMain.com appears poised to help facilitate that growth by providing attractive alternatives in those markets that the Company believes are currently under-served.'' Proceeds from the sale of shares will be used to pay the cash portion of the purchase prices payable in the acquisitions of 17 Internet service providers, repay certain indebtedness of these Internet service providers, and for general corporate purposes. The managing underwriters of the offering are BT Alex. Brown Incorporated, ING Baring Furman Selz LLC, First Union Capital Markets Corp., SoundView Technology Group, Inc., and WIT Capital (as e-Manager). OneMain.com provides Internet access and related services throughout the United States to individuals and businesses located predominantly outside of large metropolitan areas. The Company believes individuals in these markets have traditionally been under-served by national on-line service providers and that great opportunity exists to fill that void. Following the closing of 17 acquisitions of Internet service providers, the Company will immediately become one of the ten largest independent Internet service providers in the United States with over 331,000 subscribers at December 31, 1998. A copy of the prospectus related to the offering may be obtained from BT Alex. Brown Incorporated, 1 South Street, Baltimore, Maryland 21202. This press release contains forward-looking statements related to OneMain.com's opportunities and future growth. Any or all of our forward-looking statements in this press release or in any other public statements we make may turn out to be wrong. They can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties, including risks related to the Company's consolidation strategy, its ability to complete and integrate acquisitions; and other factors affecting the Company's prospects described in the Company's prospectus. This press release shall not constitute an offer to sell or the 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. ------------------------------------------------------------------------ Contact: Elliot Sloane / Darren Brandt Sloane & Company 212/486-9095 / 9096