Business Editors
HERNDON, Va.--(BUSINESS WIRE)--Dec. 22, 1999
Network Solutions, Inc. (NASDAQ:NSOL) today announced that its board of directors has approved a two-for-one stock split to be effected in the form of a stock dividend on its common stock.
The record and distribution dates for the stock split have not yet been determined, but will occur after the completion of a follow-on common stock offering also announced today by Network Solutions. As a result of the stock split and the sale by Network Solutions for 1,000,000 shares in the offering, the number of shares of common stock currently outstanding will increase from approximately 33.9 million to approximately 69.8 million.
About Network Solutions
Founded in 1979, Network Solutions, Inc. (NASDAQ: NSOL) pioneered the development of registering Web addresses ending in .com, .net, .org and .edu and is the world's leading Registrar with more than 6.5 million net registrations. Network Solutions also plays a critical role in the infrastructure of the Internet through its Registry services. Network Solutions' Registry customers include all the Registrars of domain names ending in .com, .net and .org. Network Solutions also provides Internet Technology Services that assist large commercial organizations in the evolution and management of their Internet technologies. For more information, see the www.networksolutions.com Web site.
Statements in this announcement other than historical data and information constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, uncertainty of Internet privatization, increased competition in the domain name registration business, customer acceptance of new products and services offered by the company in addition to or as enhancements of its registration services, risks associated with the company's international business, uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. More information about potential factors that could affect the company's business and financial results is included in the company's filings with the Securities and Exchange Commission, especially in the company's Registration Statement on Form S-3 filed on December 22, 1999, Annual Report on Form 10-K for the year ended December 31, 1998 and Quarterly Reports on Form 10-Q for the periods ended March 31, 1999, June 30, 1999 and September 30, 1999.
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