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Proc-Type: 2001,MIC-CLEAR
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
June 28, 2000
COREL CORPORATION
(Exact name of registrant as specified in its charter)
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1600 Carling Avenue
Ottawa, Ontario, Canada KIZ 8R7
(Address of principal executive offices including zip code)
(613) 728-8200
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Item 5.
On June 28, 2000, the Company announced that it has completed the previously announced sale of 7,299,270 common shares by the Company. The issue was priced at Cdn $4.11 per common share for total gross proceeds of Cdn $30 million. In addition, half warrants will be issued to the purchasers of common shares of the Company that are purchased as part of the offering. In the event that all of the warrants are exercised, the Company will issue an additional 3,649,635 common shares resulting in gross proceeds of Cdn. $16,642,335.60.
See press release attached as Exhibit 99.1
Item 7. Financial Statements, Pro Forma Information and Exhibits
EXHIBITS.
(c) Exhibits
99.1 Press Release issued by Corel Corporation on June 28, 2000.
SIGNATURES
Pursuant to the requirement of the Security Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: June 30, 2000
COREL CORPORATION |
(Registrant) |
By: | /s/ John Blaine |
| |
John Blaine | |
Vice-President, Finance and Controller | |
(Principal Accounting Officer) |
Not to be distributed in the United States or through United States newswire
For Immediate Release
Corel Completes Sale of Common Shares
Ottawa, Canada - June 28, 2000 - Corel Corporation (NASDAQ: CORL, TSE: COR) announced today that it has completed the previously announced sale of 7,299,270 Common Shares by the Company. The issue was priced at Cdn $4.11 per Common Share for total gross proceeds of Cdn $30 million.
In addition, half warrants will be issued to the purchasers of common shares of the Company that are purchased as part of the offering, each whole warrant entitling the purchaser to acquire an additional common share at the price of Cdn. $4.56 within a 12_month period. In the event that all of the warrants are exercised, the Company will issue an additional 3,649,635 common shares resulting in gross proceeds of Cdn. $16,642,335.60.
The underwriter for the offering is Canaccord Capital Corporation.
The net proceeds of the offering will be used by the Company to meet operating cash requirements, cost reduction plan costs, capital commitments and for working capital purposes.
The common shares issued as part of this offering have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be sold or offered for sale in the United States or otherwise distributed in the United States, except in reliance on available registration exemptions.
Corel Corporation
Corel Corporation is an internationally recognized developer of award_winning business productivity, graphics and operating system solutions on the Windows®, Linux®, UNIX®, Macintosh® and Java&trade platforms. Corel also develops market-leading, Web-based solutions including applications, contents, e-commerce and online services. For access to these services and more information go to www.corel.com or www.corelcity.com. Corel is headquartered in Ottawa, Canada. Corel's common stock trades on the NASDAQ Stock MarketK under the symbol CORL and on the Toronto Stock Exchange under the symbol COR.
This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to Corel's most recent reports filed with the Securities and Exchange Commission.
Corel and the Go further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Linux is a registered trademark of Linus Torvalds. All other products, fonts, company names and logos are trademarks or registered trademarks of their respective owners.
Corel Press Contact:
Catherine Hughes
(613) 728-0826 ext. 1659
catherineh@corel.ca