ImageWare Systems, Inc. Announces Completion of Initial Public Offering
SAN DIEGO, CA, April 5, 2000 - ImageWare Systems, Inc. (AMEX:IW) today announced the completion of an initial public offering of 1,875,000 units priced at $8.00 per unit.
Each unit consists of one share of common stock, and one redeemable public warrant to purchase one share of common stock. The common stock and warrants will trade only as a unit for at least 30 days following this offering. The representative of the underwriters will determine when the units separate, after which the common stock and the public warrants will trade separately.
The units, common stock and warrants are traded on The American Stock Exchange under the symbols:
Unit: IW.U
Common Stock: IW
Warrant: IW.WS
Paulson Investment Co., Inc. and I-Bankers Securities, Inc. were the managing underwriters of the offering.
A copy of the prospectus relating to the offering may be obtained from Paulson Investment Company, Inc., Syndicate Department, 811 S.W. Naito Parkway, Suite 200 Portland, Oregon 97204.
About ImageWare Systems, Inc.
ImageWare Systems, Inc. (AMEX:IW), is a leading developer and provider of identity management solutions, providing biometric, secure credential, law enforcement and digital imaging technologies. Scalable for worldwide deployment, the Company's biometric product line includes a multi-biometric engine that is hardware and algorithm independent, enabling the enrollment and management of unlimited population sizes. ImageWare's identification products are used to manage and issue secure credentials including national IDs, passports, driver licenses, smart cards and access control credentials. ImageWare's digital booking products provide law enforcement with integrated mug shot, fingerprint Livescan and investigative capabilities. The Company also provides comprehensive digital workflow solutions for the professional photography industry. ImageWare is headquartered in San Diego, with offices in Washington DC and Canada. For more information visit www.iwsinc.com.
Safe Harbor Statement
This news release may contain forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
