North Vancouver, BC, July 15, 1999
Pivotal Corporation announced today that, on July 14, 1999, the company filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of 3,500,000 common shares
— Pivotal Corporation announced today that, on July 14, 1999, the company filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of 3,500,000 common shares. All 3,500,000 common shares are being offered by the company at a proposed price range of U.S.$12.00 to U.S.$14.00 per common share.
The company intends to use net proceeds of the offering primarily for additional working capital and other general purposes, including increased domestic and international sales and marketing expenditures, increased research and development expenditures and capital expenditures made in the ordinary course of business.
The common shares will be offered by an underwriting group lead managed by Merrill Lynch & Co. and co-managed by Bear, Stearns & Co. Inc. and Dain Rauscher Wessels. When available, a copy of the prospectus relating to the offering may be obtained from Merrill Lynch & Co., Bear, Stearns & Co. Inc. or Dain Rauscher Wessels.
A registration statement on Form F-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may any offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Pivotal Corporation is a leading provider of customer relationship management solutions that enable businesses to increase revenues by more effectively managing their interactions with customers and partners in the selling process. The company’s "360° Customer Relationship Management" solution includes corporate network- and Internet-based applications supported by an array of professional services and the company’s global network of partners called the Pivotal Alliance. This solution includes the company’s Pivotal Relationship software product, that automates and unifies the internal sales, marketing and customer service functions within a business, and the company’s recently introduced Internet application, Pivotal eRelationship, that simplifies the collaboration and sharing of information with customers and partners that are external to the business.
Pivotal Corporation is a global supplier of 360° eBusiness Relationship Management solutions that enable organizations to increase revenue by enhancing relationships with customers and business partners and conducting personalized online commerce. Pivotal's eBRM solutions fuse eCommerce, customer relationship management and business portals to automate sales, marketing, and customer service relationships between employees, business partners and customers over the Internet and corporate networks.
Pivotal's international distribution channel consists of direct salespeople, certified value-added resellers, systems integrators, technology partners and distributors. The company has more than 600 customers worldwide with more than 65,000 licensed users. Customers include Yahoo, Excite@Home, BottomLine Technologies, Micrografx, Hewlett-Packard Co., UNOCAL, Inc., Kimberly-Clark Corporation, Intel Corporation, Siemens Electric Ltd., USG Corporation, Lucent Technologies, Holophane Corporation, The Principal Financial Group and Sun Healthcare Group.
This release contains certain forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that may cause actual results of events to differ materially from those anticipated in our forward-looking statements. Factors that could cause actual results to differ materially include: rapid technological changes in the industry; volatility in the market price of the company's common stock; the company's ability to successfully manage its growth; the ability to maintain and grow successful third party relationships, to improve current products and develop new products, to adequately protect the company's proprietary rights, and other factors as described in the company's SEC filings. Although we believe that the expectations reflected in our forward-looking statements are reasonable, individual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements or other future events. Moreover, neither we nor anyone else assumes responsibility for the accuracy or completeness of forward-looking statements.