SANTA CLARA, CA (April 26, 1996)--Infoseek Corporation, (Proposed Nasdaq Market Symbol: SEEK), today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of 3,000,000 shares of its Common Stock with an estimated price range of $10 to $12 per share. All shares are being sold by the Company. In addition, the Company has granted the underwriters an option to purchase up to 450,000 additional shares to cover underwriters' over-allotments. The offering is being co-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 copy of the preliminary prospectus relating to these securities may be obtained, when available, from the prospectus department of Alex. Brown & Sons Incorporated at 135 East Baltimore Street, Baltimore, MD 21201, (410) 727-1700 or Merrill Lynch & Co. 250 Vesey Street, New York, NY 10281 (212) 449-1000.
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.