Santa Clara, California, June 11, 1996 ... Infoseek Corporation (Nasdaq National Market Symbol: SEEK) announced today that it has made an initial public offering of 3,454,500 shares of its Common Stock at a price of $12.00 per share. In addition, the Company has granted the underwriters an option to purchase up to 518,175 additional shares to cover underwriters' over-allotments. The offering is being made through an underwriting group managed by Alex. Brown & Sons Incorporated and Merrill Lynch & Co.
Infoseek develops and provides branded, comprehensive Web-based navigational services that help users access and personalize the vast resources of the Internet. The Company's primary service offering, Infoseek Guide, is a free service targeted at individual users. The Company's objective is to establish itself as the dominant, branded navigational service provider on the Internet in order to reach the greatest audience. To achieve its objective, the Company intends to: enhance the attractiveness of its service to users through the addition of new features and functionality; develop and license innovative technologies which can differentiate its service and scale with the growth of the Internet; offer advertisers high impact, innovative advertising products; distribute its service widely through software companies, access providers and others; and form relationships with leading third party content providers.
A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A prospectus relating to the offering may be obtained from the prospectus department of Alex. Brown & Sons Incorporated at 135 East Baltimore Street, Baltimore, MD 21202, (410) 727-1700 or Merrill Lynch & Co., 250 Vesey Street, New York, NY 10281, (212) 449-1000.