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GuruNet Corporation Registration Statement Declared Effective by
SEC
WESLEY HILLS, New York, April 21 /PRNewswire-FirstCall/ -- GuruNet Corporation
(AMEX:GRU), creators of the Answers.com reference- based search engine,
announced today that the Securities Exchange Commission has declared effective
the company's Registration Statement on Form SB-2, initially filed on April 6,
2005, and amended on April 20, 2005. The Registration Statement relates to the
registration of an aggregate of 1,140,504 shares of GuruNet's common stock for
the account of certain selling stockholders named in the Registration
Statement. The registered shares include (i) 1,029,488 shares of common stock
issuable upon exercise of warrants issued in February 2005 to certain holders
of GuruNet's bridge warrants, at a strike price of $17.27 per share, (ii)
100,000 shares of common stock issuable upon the exercise of warrants issued to
GuruNet's financial advisor, at a strike price of $11.00 per share, (iii) 3,216
shares of common stock issuable upon the exercise of certain options granted to
other consultants and (iv) 7,800 shares of common stock issued to a consultant
of GuruNet. The prospectus contained in the Registration Statement includes
510,987 additional shares of common stock previously registered by GuruNet in
connection with its October 2004 IPO, which are being carried forward.
GuruNet will not receive any proceeds from the sale of such registered shares
by the selling stockholders, but will receive the exercise price to be paid
upon any exercise of outstanding warrants and options held by the selling
stockholders described in the Registration Statement. Assuming the exercise of
all such outstanding warrants and options, the total amount of gross proceeds
GuruNet would receive would be approximately $19,000,000.
You may obtain copies of the Registration Statement, as amended, and related
prospectus free of charge from the SEC through their website,
http://www.sec.gov/. In addition, copies of the Registration Statement, as
amended, and related prospectus may be obtained free of charge from GuruNet
Corporation, Investor Relations Department, Jerusalem Technology Park, Building
98, Jerusalem 91481 Israel, tel: +1(845)-362-4842, or through GuruNet's
website, http://www.gurunet.com/ir.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy securities, 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 states.
About Gurunet
GuruNet Corporation operates Answers.com, a leading reference engine
(http://www.answers.com/). Founded in 1999 by Bob Rosenschein, GuruNet
Corporation (http://www.gurunet.com/) provides patented technology and software
tools to access concise information on demand. For additional information,
visit http://www.gurunet.com/.
Cautionary Statement
Some of the statements included in this press release are forward- looking
statements that involve a number of risks and uncertainties. For those
statements, we claim the protection of the safe harbor for forward- looking
statements contained in the Private Securities Litigation Reform Act of 1995.
Important factors may cause our actual results to differ materially, including
our inability to increase the number of persons who use our products and the
number of partners who will generate increase traffic to our sites, and other
risk factors identified from time to time in our SEC reports, including, but
not limited to, the registration statement on Form SB-2 filed on April 6, 2005,
as amended by Amendment No.1 to Form SB-2 filed on April 20, 2005. Any
forward-looking statements set forth in this news release speak only as of the
date of this news release. We do not intend to update any of these
forward-looking statements to reflect events or circumstances that occur after
the date hereof. This press release and prior releases are available at
http://www.gurunet.com/. The information in GuruNet's website is not
incorporated by reference into this press release and is included as an
inactive textual reference only.
DATASOURCE: GuruNet Corporation
CONTACT: GuruNet Contact: , Jay Bailey, Director of
Communications, +1-866-576-0352; GuruNet Investor Relations:
BPC Financial Marketing, John Baldissera, +1-800-368-1217