WORLDWIDE | INVESTORS | CAREERS | SUPPORT | CONTACT US
Openwave Systems, Inc.
News Room
 
Home > News Room > Press Releases > 2005 > 12/08/2005
  Print this Page Email this Page  
  OPENWAVE SYSTEMS INC. PRICES COMMON STOCK OFFERING
  

  REDWOOD CITY, Calif. - December 8, 2005 -- Openwave Systems Inc. (Nasdaq: OPWV), a Delaware corporation, today announced that it has priced an underwritten public offering of 15,600,000 primary shares of common stock at $16.35 per share. The company granted the underwriters an option to purchase up to an additional 2,340,000 shares solely to cover overallotments, if any. The offering is made pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission on December 1, 2005 and is expected to close on December 13, 2005, subject to customary closing conditions.

Openwave expects to raise an aggregate of $241.5 million in net proceeds from the offering without the exercise of the overallotment option, or $277.9 million in net proceeds if the overallotment option is exercised in full. Openwave expects to use approximately $111.2 million of the net proceeds to fund the acquisition of Musiwave, S.A., and the balance of the net proceeds will be available for general corporate purposes, including working capital and capital expenditures. The company may in the future use a portion of the net proceeds to acquire other businesses, technologies, assets and product lines that complement or expand its existing business.

The sole book-running manager of the offering is Merrill Lynch & Co., the co-lead manager of the offering is Lehman Brothers and the co-managers of the offering are JP Morgan and Thomas Weisel Partners LLC. Copies of the prospectus and prospectus supplement relating to the offering may be obtained from Merrill Lynch at 4 World Financial Center, 250 Vesey Street, New York, NY 10281, or from the offices of any of the co-managers identified above.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements
 
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements relating to whether or not Openwave will consummate the offering and the anticipated use of proceeds of the offering. These statements are based upon the current expectations and beliefs of Openwave's management and are subject to risks and uncertainties that could cause the actual results to differ, possibly materially, from those projected in the forward-looking statements. Some, but not all, of these risks and uncertainties are discussed from time to time in the press releases and disclosure materials of Openwave filed with the Securities and Exchange Commission. In addition, the forward-looking statements in this press release involve risks and uncertainties specific to the nature of the proposed offering, including, but not limited to, unanticipated changes in the securities market and competitive conditions. Openwave is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

 
Openwave and the Openwave logo are trademarks and or registered trademarks of Openwave Systems Inc. All other trademarks are the properties of their respective owners.

For further information:
 
Contact Openwave Worldwide Public Relations

INVESTOR CONTACTS
Michael Bishop
Sr. Investor Relations Manager
Openwave Systems Inc.
(650) 480 4461
michael.bishop@openwave.com 		 



 
Search Press Releases

Search
 
 
 
 
Openwave Investors
Stock information, email alerts, SEC documents and investor news.  
About Our Customers
Openwave customers serve over half of all mobile subscribers 
Openwave Executives
Openwave's team of visionary executives and board members 
Company Overview
Openwave's history and mission  
Industry Events
Learn about Openwave's presence at industry events. 
 
 
TERMS AND CONDITIONS | PRIVACY POLICY | SITE MAPCopyright © 2000-2008 Openwave Systems Inc.