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Online Resources Completes Follow-on Public Offering
CHANTILLY, Va., April 5, 2005
Online Resources Corp. (Nasdaq: ORCC), a leading outsourcer of Internet financial services, today announced that it has priced the sale of 4,400,000 newly issued shares of its common stock by the company and 404,893 shares of its common stock by selling stockholders at $8.50 per share. The company will not receive any of the proceeds from the sale of shares by the selling stockholders. The company granted the underwriters the right to purchase an additional 720,734 shares, also at $8.50 per share, to cover over-allotments. The underwriters for this offering are Friedman, Billings, Ramsey & Co., Inc. (NYSE:FBR) acting as lead manager, with Jefferies & Company, Inc. and D.A. Davidson & Co. acting as co-managers.
A final prospectus related to the offering may be obtained from Friedman, Billings, Ramsey & Co., Inc. at Potomac Tower, 1001 19th Street North, Arlington, VA 22209.
A registration statement relating to the sale of the shares by Online Resources that had previously been filed with the Securities and Exchange Commission has been declared effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Online Resources
Online Resources powers Internet financial services for 700 firms nationwide. The Company's proprietary account presentation, payment and relationship management services are branded to its client banks, credit unions, card issuers and payment acquirers. The Company serves over three million consumer end-users and processes over $10 billion in payments annually. Founded in 1989, Online Resources (Nasdaq: ORCC, Website: www.orcc.com) has been widely recognized as one of the nation's fastest growing technology firms.
This news release may contain statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed to be a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are advised to review the risks and uncertainties discussed in filings made by the company with the Securities and Exchange Commission, including those risks and uncertainties contained under the heading "Risk Factors" in the company's Form 10-K, latest 10-Q, and S-3 as filed with the Securities and Exchange Commission.
Media Contact: Beth Halloran,
Director, Corporate Communications
703.653.2248
bhalloran@orcc.com
Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.653.3155
cgraham@orcc.com
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