North Vancouver, BC, August 5, 1999
Pivotal Corporation announced today the initial public offering of 3,500,000 common shares at a price of U.S. $12 per share.
— Pivotal Corporation announced today the initial public offering of 3,500,000 common shares at a price of U.S. $12 per share. All 3,500,000 common shares are being offered by the company. The common shares will be listed on the Nasdaq National Market under the symbol PVTL. The common shares are being offered by an underwriting group lead managed by Merrill Lynch & Co. and co-managed by Bear, Stearns & Co. Inc. and Dain Rauscher Wessels. The company has granted to the underwriters an option to purchase an additional 525,000 common shares to cover over-allotments, if any.
A copy of the prospectus relating to the offering may be obtained from Merrill Lynch & Co. (Attention: Final Prospectus Department, 44 B Colonial Drive, Piscataway, New Jersey 08854); Bear, Stearns & Co. Inc. (245 Park Avenue, New York, New York 10167); or Dain Rauscher Wessels (Dain Rausher Plaza, 60 South Sixth Street, Minneapolis, Minnesota 55402-4422).
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 enables large and medium-sized businesses worldwide to make, serve, and manage customers with superior speed and efficiency by providing XML-based demand chain networks that deliver personalized customer experiences across every touch point in real-time. These networks unify Internet commerce, CRM, eSelling, and wireless technologies to manage collaborative relationships between customers, business partners, and employees; guide intelligent commerce transactions across multiple channels; seamlessly integrate the demand chain with the supply chain; and fully exploit Microsoft platform standards.
Pivotal solutions are sold in 35 countries and are available in English, French, German, Spanish, Portuguese, Swedish, Japanese and Chinese. Pivotal's worldwide customer base includes more than 1,000 organizations in traditional, commercial and public market sectors and the new digital economy, including KPMG, Intrawest Corporation, Emerson Electric, US Filter, Ericsson, Nissan Motor Corp., HarperCollins Publishers, Qiagen Inc., Deutsche Bank, Trader.com, Southern Company, Lucent Technologies, Inc., NEC, Deloitte & Touche, Principal Financial Group and Red Cross Australia.
Pivotal is a public company traded on the NASDAQ under the symbol “PVTL” and the Toronto Stock Exchange under the symbol “PVT.” More information can be found on the corporate Web site at http://www.pivotal.com.
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.