KING OF PRUSSIA, Pa., August 11, 2003 (PRIMEZONE) -- Neoware Systems, Inc. (Nasdaq:NWRE), the leading supplier of software, services, and thin client appliances, today announced that it has filed a Form S-3 shelf registration statement with the Securities and Exchange Commission (the "SEC"). Upon being declared effective by the SEC, the shelf registration statement would allow Neoware to issue common stock, preferred stock, debt securities, and warrants, from time to time, up to an aggregate of $100 million. The Company's shelf registration is part of a registration statement covering the registration for resale by selling stockholders of 1,500,000 shares which, as previously announced, were recently sold in a private placement.
"We have ample liquidity, and no current plans to access the capital markets," commented Michael Kantrowitz, Chairman and CEO of Neoware. "This shelf registration will provide us with maximum flexibility as we continue to invest in our business and as we explore various opportunities for the long-term benefit of our shareholders."
A registration statement 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 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 State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
About Neoware
Neoware provides software, services, and solutions to enable Appliance Computing, a proven Internet-based computing architecture targeted at business customers that is designed to be simpler and easier than traditional PC-based computing. Neoware's software and management tools power and manage a new generation of smart computing appliances that utilize the benefits of open, industry-standard technologies to create new alternatives to personal computers used in business and a wide variety of proprietary business devices.
Neoware's products are designed to run local applications for specific vertical markets, plus allow access across a network to multi-user Windows servers, Linux servers, mainframes, minicomputers, and the Internet. Computing appliances that run and are managed by Neoware's software offer the cost benefits of industry-standard hardware and software, easier installation, and have lower up-front, maintenance, and administrative costs than proprietary or PC-based alternatives.
More information about Neoware can be found on the Web at http://www.neoware.com or via email at invest@neoware.com. Neoware is based in King of Prussia, PA.
Neoware is a registered trademark of Neoware Systems, Inc. All other names, products and services are trademarks or registered trademarks of their respective holders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our liquidity, our continued investment in our business, opportunities providing long term benefits to our shareholders and the potential offering of our securities. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in such forward-looking statements include, our ability to successfully sell our securities, timing and receipt of future orders, our timely development and customers' acceptance of our products, pricing pressures, rapid technological changes in the industry, growth of the Appliance Computing market, increased competition, our ability to attract and retain qualified personnel, adverse changes in customer order patterns, our ability to identify and successfully consummate and integrate future acquisitions, adverse changes in general economic conditions in the U. S. and internationally, risks associated with foreign operations and political and economic uncertainties associated with current world events. These and other risks are detailed from time to time in Neoware's periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its reports on Form 10-K for the year ended June 30, 2002 and Form 10-Q for the quarter ended March 31, 2003.