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GLOBIX
EXERCISES RIGHTS TO ACQUIRE EDGAR ONLINE STOCK
Total Holdings of Edgar Online
– Now 1,366,667 Shares of Common Stock
NEW YORK, NEW YORK-May 26, 1999 – Globix Corporation
(NASDAQ: GBIX), announced that in conjunction with the Initial Public
Offering of EDGAR Online, Inc. it has converted its $1 million
debenture and exercised its warrants issued by EDGAR Online on May 10,
1999. Pursuant to the July 1998 agreement with EDGAR Online, Inc., Globix
was issued 670,000 shares of common stock from the conversion of its
debenture. By exercising the warrants Globix was issued 696,667
shares of common stock, thereby acquiring a total of 1,336,667 shares
of EDGAR Online common stock.
On May 26, 1999 EDGAR Online, Inc. announced
the commencement of the initial public offering of 3,600,000 shares
of its Common Stock at $9.50 per share. The shares will trade on the
NASDAQ National Market under the trading symbol “EDGR”. Based on shares
outstanding as of May 26, 1999, Globix will own 11.58% of EDGAR
Online’s shares after the completion of the initial public offering
and has granted underwriters the option to sell 126,000 shares of
common stock to cover over-allotments. Should the underwriters elect
to exercise the over-allotment option in full, Globix will
net approximately $1,112,580 and will own 10.49% of EDGAR Online,
Inc. However, no assurance can be given that the over-allotment option
will be exercised. The remaining shares would remain subject to an
underwriter’s lockup that expires May 26, 2000.
About
Globix
Globix Corporation is a leading provider of Internet connectivity
and sophisticated Internet-based solutions to large and medium size
businesses. Globix provides businesses with a comprehensive
range of value-added products and services designed to enable them
to take advantage of their corporate networks and the Internet to
effectively carry out their business strategy.
This press release contains forward-looking
statements. Actual results could differ materially from those projected
in the forward-looking statements. Additional information concerning
factors that could cause actual results to differ materially from
those in the forward-looking statements is contained under the heading
of Risk Factors listed from time to time in the Company’s filings
with the Securities and Exchange Commission.
Contact:
Charles Strauzer – Manager, Investor Relations
Globix Corporation
212-625-7327
[email protected]
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