MCLEAN, Va., Oct. 22, 2014 /PRNewswire/ -- WidePoint
Corporation (NYSE Mkt: WYY) a leading provider of Managed Mobility
Services (MMS) specializing in Cybersecurity and Telecommunications
Lifecycle Management (TLM) solutions, announced today that it
intends to offer shares of its common stock in an underwritten
public offering. All of the shares in the offering are to be sold
by WidePoint. WidePoint also expects to grant the underwriters a
30-day option to purchase additional shares of WidePoint's common
stock to cover over-allotments, if any. The offering is subject to
market conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the final size or
terms of the offering.
In connection with the offering, B. Riley & Co., LLC, is
acting as lead book-runner and Craig‑Hallum Capital Group LLC is
acting as co-manager.
WidePoint expects to use the net proceeds from the offering for
growth capital, general corporate purposes including the repayment
of debt, and M&A activities.
A shelf registration statement (No. 333-193250) relating to the
shares of common stock to be issued in the proposed offering was
filed with the Securities and Exchange Commission (SEC). A
preliminary prospectus supplement and accompanying base prospectus
relating to the offering have been filed with the SEC and are
available on the SEC's website located at www.sec.gov. Electronic
copies of the preliminary prospectus supplement, when available,
may be obtained by contacting the Compliance Department, B. Riley
& Co., LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025 at (888)
295-0155 and at compliance@brileyco.com. Before you invest, you
should read the preliminary prospectus supplement and accompanying
prospectus in the registration statement and other documents
WidePoint has filed or will file with the SEC for more complete
information about WidePoint and the offering.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.
About WidePoint
WidePoint (NYSE Mkt: WYY) is a leading provider of secure,
cloud-delivered, enterprise-wide information technology-based
solutions that can enable enterprises and agencies to deploy fully
compliant IT services in accordance with government-mandated
regulations and advanced system requirements. WidePoint has several
major government and commercial contracts. For more information,
visit www.widepoint.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the Exchange Act), including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the company, its
directors or its officers with respect to, among other things: (i)
the company's financing plans; (ii) trends affecting the company's
financial condition or results of operations; (iii) the company's
growth strategy and operating strategy; (iv) anticipated revenues
for the third quarter ended September 30,
2014; and (v) the risk factors disclosed in the Company's
periodic reports filed with the SEC. The words "may," "would,"
"will," "expect," "estimate," "anticipate," "believe," "intend" and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors.
For More
Information:
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Jim McCubbin, EVP
& CFO
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Brett Maas or David
Fore
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WidePoint
Corporation
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Hayden IR
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7926 Jones Branch
Drive, Suite 520
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(646)
536-7331
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McLean, VA
22102
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brett@haydenir.com
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(703)
349-2577
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jmccubbin@widepoint.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/widepoint-announces-proposed-public-offering-of-common-stock-110982740.html
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SOURCE WidePoint Corporation