WidePoint Announces Proposed Public Offering Of Common Stock
McLean, VA, October 22, 2014 – 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 firstname.lastname@example.org. 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.
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.