GuruNet Corporation Registration Statement Declared Effective by SEC
22 April 2005 - 7:00AM
PR Newswire (US)
GuruNet Corporation Registration Statement Declared Effective by
SEC WESLEY HILLS, New York, April 21 /PRNewswire-FirstCall/ --
GuruNet Corporation (AMEX:GRU), creators of the Answers.com
reference- based search engine, announced today that the Securities
Exchange Commission has declared effective the company's
Registration Statement on Form SB-2, initially filed on April 6,
2005, and amended on April 20, 2005. The Registration Statement
relates to the registration of an aggregate of 1,140,504 shares of
GuruNet's common stock for the account of certain selling
stockholders named in the Registration Statement. The registered
shares include (i) 1,029,488 shares of common stock issuable upon
exercise of warrants issued in February 2005 to certain holders of
GuruNet's bridge warrants, at a strike price of $17.27 per share,
(ii) 100,000 shares of common stock issuable upon the exercise of
warrants issued to GuruNet's financial advisor, at a strike price
of $11.00 per share, (iii) 3,216 shares of common stock issuable
upon the exercise of certain options granted to other consultants
and (iv) 7,800 shares of common stock issued to a consultant of
GuruNet. The prospectus contained in the Registration Statement
includes 510,987 additional shares of common stock previously
registered by GuruNet in connection with its October 2004 IPO,
which are being carried forward. GuruNet will not receive any
proceeds from the sale of such registered shares by the selling
stockholders, but will receive the exercise price to be paid upon
any exercise of outstanding warrants and options held by the
selling stockholders described in the Registration Statement.
Assuming the exercise of all such outstanding warrants and options,
the total amount of gross proceeds GuruNet would receive would be
approximately $19,000,000. You may obtain copies of the
Registration Statement, as amended, and related prospectus free of
charge from the SEC through their website, http://www.sec.gov/. In
addition, copies of the Registration Statement, as amended, and
related prospectus may be obtained free of charge from GuruNet
Corporation, Investor Relations Department, Jerusalem Technology
Park, Building 98, Jerusalem 91481 Israel, tel: +1(845)-362-4842,
or through GuruNet's website, http://www.gurunet.com/ir. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy securities, 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 states. About Gurunet GuruNet
Corporation operates Answers.com, a leading reference engine
(http://www.answers.com/). Founded in 1999 by Bob Rosenschein,
GuruNet Corporation (http://www.gurunet.com/) provides patented
technology and software tools to access concise information on
demand. For additional information, visit http://www.gurunet.com/.
Cautionary Statement Some of the statements included in this press
release are forward- looking statements that involve a number of
risks and uncertainties. For those statements, we claim the
protection of the safe harbor for forward- looking statements
contained in the Private Securities Litigation Reform Act of 1995.
Important factors may cause our actual results to differ
materially, including our inability to increase the number of
persons who use our products and the number of partners who will
generate increase traffic to our sites, and other risk factors
identified from time to time in our SEC reports, including, but not
limited to, the registration statement on Form SB-2 filed on April
6, 2005, as amended by Amendment No.1 to Form SB-2 filed on April
20, 2005. Any forward-looking statements set forth in this news
release speak only as of the date of this news release. We do not
intend to update any of these forward-looking statements to reflect
events or circumstances that occur after the date hereof. This
press release and prior releases are available at
http://www.gurunet.com/. The information in GuruNet's website is
not incorporated by reference into this press release and is
included as an inactive textual reference only. DATASOURCE: GuruNet
Corporation CONTACT: GuruNet Contact: , Jay Bailey, Director of
Communications, +1-866-576-0352; GuruNet Investor Relations: BPC
Financial Marketing, John Baldissera, +1-800-368-1217
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