Business Services Industry
SmartDisk Files S-3 Registration Statement with SEC
Business Wire, Oct 24, 2000
Business Editors
NAPLES, Fla.--(BUSINESS WIRE)--Oct. 24, 2000
SmartDisk Corporation (Nasdaq:SMDK), a company whose products simplify the digital lifestyle, today announced that it has filed a registration statement on Form S-3 with the Securities and Exchange Commission (SEC). The registration statement relates to 1,561,600 shares of SmartDisk common stock, all of which are currently outstanding. The shares will be registered on behalf of certain non-management shareholders as a result of their exercise of existing registration rights. The Company will not receive any proceeds from the sale of the shares being registered, nor will the registration increase the total number of shares of SmartDisk common stock outstanding.
Approximately 1,182,850 of the shares being registered were originally issued to shareholders of companies acquired by SmartDisk earlier this year as part of SmartDisk's strategy to broaden its product portfolio and global presence. An additional 378,750 shares are being registered pursuant to piggyback registration rights granted to shareholders who invested in SmartDisk prior to its initial public offering.
About SmartDisk Corporation
SmartDisk designs, develops, manufactures and markets digital connectivity products and personal storage systems that allow consumers to easily access and exchange digital data. The Company is using its proprietary and patented technologies to capitalize on the growing demand for digital applications and increased usage of the Internet. SmartDisk's investors and partners include Apple, Hitachi, IBM, NEC, SanDisk, SCM Microsystems, Sony, Toshiba and others. For more information, go to www.smartdisk.com.
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although SmartDisk believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. These statements may involve risks and uncertainties that could cause actual results to differ materially from the expected results. Such risks include, but are not limited to, the company's dependence on a limited number of contract and offshore manufacturers, its dependence on OEMs to promote its products, its ability to develop commercially viable products on a timely basis, its ability to generate sufficient cash from operations to support its growth strategies, and other risk factors, all as more fully described in SmartDisk's Form 10-K for the year ended December 31, 1999, in its Form 10-Q for the quarter ended June 30, 2000, and in other reports and periodic filings made from time to time with the Securities and Exchange Commission.
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