NEWZ completes $1.85M Private Placement >
Tuesday August 8, 11:41 am Eastern Time Press Release
BURLINGTON, Mass.--(BUSINESS WIRE)--Aug. 8, 2000--NewsEdge Corporation (Nasdaq:NEWZ - news), a syndicator of eContent and global news services, today announced it has closed a financing of $1,845,000 through a private placement of 868,234 shares of its common stock. The investors consisted of existing shareholders, officers and directors of the Company and one new investor. In connection with the private placement, the Company also issued warrants to purchase approximately 492,000 shares of common stock with an exercise price of $4.00 per share to the same investors.
The common stock offered in the private placement has not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About NewsEdge Corporation
NewsEdge Corporation (Nasdaq:NEWZ - news) is a syndicator of eContent and global news services. Differentiating NewsEdge is the Company's core competency--built over more than a decade--in refining tens of thousands of daily news and eContent items into useful, granular feeds and delivering them over the Internet. The Company employs a unique combination of leading technology and an editorial team of industry specialists to create an extensive and proprietary library of 1,500 business-oriented topics. NewsEdge serves Intranets, Extranets and eBusiness initiatives at 1,700 organizations with award-winning news and information solutions including iTopics(TM), eTopics(TM), NewsEdge Insight(TM), NewsEdge Live(TM), and NewsEdge Review(TM) topics. NewsEdge Corporation is headquartered in Burlington, Massachusetts, with sales offices and distributors throughout North America, South America, Europe, Japan and the Middle East. For more information about NewsEdge Corporation, please visit the company's Web site at newsedge.com.
(c) NewsEdge Corporation, 2000, all rights reserved. NewsEdge is a registered trademark of NewsEdge Corporation. All other product or service marks mentioned herein are those of NewsEdge or their respective owners.
Certain of the above statements on the Company's future revenue and financial performance, are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a result of a variety of factors, including, risks associated with acquisitions, the timely development and acceptance of new products, competitive developments, the success of relationships with third parties, and other risk factors described from time to time in the Company's SEC reports. |