News - Public offering|
ST. LOUIS--(BUSINESS WIRE)--June 15, 1998--The Source Information Management Co. (NASDAQ:SORC) today announced that it has commenced a public offering of 2,000,000 shares of Common Stock, including 500,000 shares offered by certain shareholders of the company, at a price of $6.00 per share pursuant to a registration statement declared effective by the Securities and Exchange Commission on June 15, 1998.
Donald & Co. Securities Inc. is managing underwriter for the offering. The Source's Common Stock is quoted on the Nasdaq National Market under the symbol "SORC."
Net proceeds of approximately $7.9 million from the sale of shares of common stock will be used to expand The Source's Advance Pay Program, finance potential acquisitions, develop new or enhanced products and services, and provide working capital for general business purposes, including the continued upgrade of The Source's computer systems.
The Source provides information-gathering, consulting and other information-based services to operators of mass merchandise, grocery, convenience and pharmacy stores located throughout the United States and Eastern Canada....
This announcement is neither an offer to sell nor a solicitation of an offer to buy these securities. Any offer is made only by the Prospectus, copies of which can be obtained from Donald & Co. Securities Inc., 65 East 55th Street, New York, N.Y., 10022 and such other dealers as may lawfully offer these securities.