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ARTIPO.TXT
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1991-08-05
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FOR IMMEDIATE RELEASE:
August 5, 1991
ARTISOFT, INC. FILES FOR INITIAL PUBLIC OFFERING OF COMMON
STOCK
TUCSON, Ariz. -- Artisoft, Inc. announced today the filing of
a registration statement with the securities and Exchange
Commission for a proposed initial public offering of
5,000,000 shares of common stock.
Of the shares being offered, 2,500,000 are being sold by the
Company and 2,500,000 are being sold by the selling
shareholders. It is currently anticipated that the initial
public offering price will be between $11.50 and $13.50 per
share. The Company will have approximately 16,766,000 shares
outstanding after the offering.
Alex. Brown & Sons Incorporated, Bear Stearns & Co. Inc. and
Montgomery Securities will co-manage the offering. A copy of
the preliminary prospectus can be obtained from the office of
Alex. Brown & Sons Incorporated, 135 East Baltimore Street,
Baltimore, MD 21202; Bear Stearns & Co. Inc., 245 Park
Avenue, New York, NY 10167; or Montgomery Securities,. 600
Montgomery Street, San Francisco, CA 94111.
The Company plans to use the proceeds of the offering for
working capital and general corporate purposes.
Artisoft, Inc. based in Tucson, designs, manufactures,
markets and supports cost-effective and easy-to-use local
area network software and systems and communication devices
designed to enhance the productivity of users of IBM personal
computers and compatibles. The Company markets its products
worldwide through distributors and dealers and through in-
house telemarketing.
A registration statement relating to theses 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
communication shall 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 securities laws of any such State.
For more information, contact: Artisoft CFO Bill Baker at
602-690-3394 or Artisoft General Counsel Dennis R. Weyrauch
at 602-690-3635.