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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: $Mogul who wrote (1712)	5/8/1999 8:22:00 AM
From: ChartMan	Read Replies (1) \| Respond to of 2414

03:45 PM ET 05/07/99CORRECTED - Net.B@nk plans debt, stock offer In ATLANTA story headlined "Net.B@nk plans debt, stock offering" please read in first graf "...3 million common shares on a post-split basis to the market" rather than "...3 million common shares -- nearly half of its outstanding stock -- to the market" (corrects to show that the new share offering reflects the company's three-for-one stock split to be effectedon May 14). In last paragraph, please read "The bank said the share amount to be offered reflected a three-for-one stock split in the form of a stock dividend with a record date of April 23 and a distribution date of May 14" instead of "The share amount to be offered reflects a three-for-one stock split that the bank declared earlier this month" (elaborating on the stock split). A corrected version follows. ATLANTA, May 7 (Reuters) - Internet bank Net.B@nk Inc. said Friday it planned to offer $100 million in convertible subordinated notes and 3 million common shares on a post-split basis to the market. Net.B@nk, one of a few small banks that does all of its business over the Internet, said it had filed a registration statement with the Securities and Exchange Commission for thepublic offerings. The bank, whose stock price has climbed sixfold since January to end at 170-8/16 on the Nasdaq market on Thursday, said it would be the sole issuer of the debt and shares. The underwriters, which include Bear Stearns & Co. Inc., would have the option to buy up to 450,000 additional shares and up to $15 million in notes to cover over-allotments, itsaid. In the first quarter ended March 31, Net.B@nk had 7.8 million weighted average shares outstanding. The bank said the share amount to be offered reflected a three-for-one stock split in the form of a stock dividend with a record date of April 23 and a distribution date of May 14.