Tuesday, October 22, 1996
Ontrack Data International, Inc. announces public offeringOntrack Data International, Inc. (Ontrack) announced today the public offering of 2,700,000 shares of its Common Stock at a price of $12.00 per share. Of these shares, 2,000,000 are being offered by the Company and 700,000 are being offered by selling shareholders. The shares are being sold to the public through an underwriting group led by Montgomery Securities, Dain Bosworth Incorporated and Volpe, Welty & Company. Upon conclusion of the offering Ontrack will have 9,602,674 shares outstanding. In addition, Ontrack and certain selling shareholders have granted the underwriters an option to purchase up to an additional 405,000 shares to cover any over-allotments. The Company intends to use the proceeds of the offering for working capital and general corporate purposes.
Ontrack is a leading provider of data recovery services to a broad range of customers experiencing a loss of valuable computer data. The Company first developed expertise in data file structures, operating systems and storage media technologies in 1985 through the development of Disk Manager, a hard disk drive installation software utility which the Company continues to market.
Copies of the prospectus may be obtained from Montgomery Securities, 600 Montgomery Street, San Francisco, California 94111, Dain Bosworth Incorporated, 60 South Sixth Street, Minneapolis, Minnesota 55402 or Volpe, Welty & Company, One Maritime Plaza, 11th Floor, San Francisco, California 94111.#####
Ben Blomberg, 952-516-3617, Ben.Blomberg@krolldiscovery.com