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As filed with the Securities and Exchange Commission on June 24, 1999
Registration No. 333-
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
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TOWNE SERVICES, INC.
(Exact Name of Registrant as Specified in its Charter)
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<S> <C> <C>
GEORGIA 7374 62-1618121
(State or Other Jurisdiction of (Primary Standard Industrial (I.R.S. Employer Identification
Incorporation or Organization) Classification Code Number) Number)
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3950 JOHNS CREEK COURT, SUITE 100, SUWANEE, GEORGIA 30024, (678) 475-5200, (678)
475-5300 (FACSIMILE)
(Address, Including Zip Code, and Telephone Number, Including Area Code, of
Registrant's Principal Executive Offices)
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DREW W. EDWARDS
CHIEF EXECUTIVE OFFICER
TOWNE SERVICES, INC.
3950 JOHNS CREEK COURT
SUITE 100
SUWANEE, GEORGIA 30024
(678) 475-5200
(678) 475-5300 (FACSIMILE)
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code,
of Agent for Service)
Copies to:
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GLENN W. STURM, ESQ. DAVID A. STOCKTON, ESQ.
SUSAN L. SPENCER, ESQ. JAN M. DAVIDSON, ESQ.
NELSON MULLINS RILEY & SCARBOROUGH, L.L.P. KILPATRICK STOCKTON LLP
FIRST UNION PLAZA, SUITE 1400 1100 PEACHTREE STREET
999 PEACHTREE STREET, N.E. SUITE 2800
ATLANTA, GEORGIA 30309 ATLANTA, GEORGIA 30309
(404) 817-6000 (404) 815-6500
(404) 817-6050 (FACSIMILE) (404) 815-6555 (FACSIMILE)
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Approximate date of commencement of proposed sale to the public: As soon as
practicable after this Registration Statement becomes effective.
If any of the securities being registered on this form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, check the following box. [ ]
If this form is filed to register additional securities for any offering
pursuant to Rule 462(b) under the Securities Act, check the following box and
list the Securities Act registration statement number of the earlier effective
registration statement for the same offering. [X] 333-76859
If this form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. [ ]
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If this form is a post-effective amendment filed pursuant to Rule 462(d)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. [ ]
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If delivery of the prospectus is expected to be made pursuant to Rule 434,
check the following box. [ ]
CALCULATION OF REGISTRATION FEE
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TITLE OF EACH CLASS OF AMOUNT PROPOSED MAXIMUM PROPOSED MAXIMUM
SECURITIES TO BE TO BE OFFERING PRICE AGGREGATE AMOUNT OF
REGISTERED REGISTERED(1) PER SHARE OFFERING PRICE REGISTRATION FEE
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Common Stock, no par value........... 575,000 $7.13 $4,099,750 $1,140
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(1) Includes 75,000 shares which the Underwriters have an option to purchase
from Towne Services, Inc. to cover over-allotments, if any.
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EXPLANATORY NOTE AND INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
This Registration Statement on Form S-1 is being filed by Towne Services,
Inc. pursuant to Rule 462(b) under the Securities Act of 1933, as amended. Towne
hereby incorporates by reference into this Registration Statement the contents
of Towne's Registration Statement on Form S-1 (File No. 333-76859) declared
effective on June 23, 1999 by the Securities and Exchange Commission, including
each of the documents filed with the Commission therein.
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PART II
INFORMATION NOT REQUIRED TO BE IN PROSPECTUS
ITEM 16. EXHIBITS AND FINANCIAL STATEMENTS
All exhibits filed with the Registration Statement (File No. 333-76859) are
incorporated by reference into and shall be deemed a part of this Registration
Statement, except the following, which are filed with this registration
statement:
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5.1 Opinion of Nelson Mullins Riley & Scarborough, LLP.
23.1 Consent of Arthur Andersen LLP.
23.2 Consent of KPMG LLP.
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II-1
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
has duly caused this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Atlanta, State of
Georgia, on this 24th day of June, 1999.
TOWNE SERVICES, INC.
By: /s/ DREW W. EDWARDS
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Drew W. Edwards
Chairman and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities listed and on the dates indicated.
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SIGNATURES TITLE DATE
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<C> <S> <C>
/s/ DREW W. EDWARDS Chairman of the Board and Chief June 24, 1999
- ----------------------------------------------------- Executive Officer (principal
Drew W. Edwards executive officer)
* President, Chief Operating Officer and June 24, 1999
- ----------------------------------------------------- Director
Henry M. Baroco
/s/ BRUCE F. LOWTHERS Chief Financial Officer (principal June 24, 1999
- ----------------------------------------------------- financial and accounting officer)
Bruce F. Lowthers
* Director June 24, 1999
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G. Lynn Boggs
* Director June 24, 1999
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Frank W. Brown
* Director June 24, 1999
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John W. Collins
* Director June 24, 1999
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J. Stanley Mackin
* Director June 24, 1999
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John D. Schneider, Jr.
* Director June 24, 1999
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Glenn W. Sturm
* Director June 24, 1999
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J. Stephen Turner
* Director June 24, 1999
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Bahram Yusefzadeh
* Director June 24, 1999
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Joe M. Rodgers
* Director June 24, 1999
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J. Daniel Speight, Jr.
* Director June 24, 1999
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Richardson M. Roberts
*By: /s/ BRUCE F. LOWTHERS
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as attorney-in-fact pursuant to power of
attorney set forth in the registration statement
filed on April 22, 1999, as amended (SEC File
No. 333-76859)
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II-2
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Exhibit 5.1
LAW OFFICES
Nelson Mullins Riley & Scarborough, L.L.P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
999 PEACHTREE STREET, N.E.
FIRST UNION PLAZA
SUITE 1400
Atlanta, Georgia 30309
TELEPHONE (404) 817-6000
FACSIMILE (404) 817-6050
www.nmrs.com
June 24, 1999
Towne Services, Inc.
3950 Johns Creek Court
Suite 100
Suwanee, Georgia 30024
We have acted as counsel to Towne Services, Inc. (the "Company") in
connection with the filing of a Registration Statement on Form S-1 (Reg. No.
333-76859) and this Registration Statement on Form S-1 (together, the
"Registration Statement") under the Securities Act of 1933, covering the
offering of up to 5,175,000 shares (the "Shares") of the Company's Common Stock,
no par value per share. In connection therewith, we have examined such corporate
records, certificates of public officials and other documents and records as we
have considered necessary or proper for the purpose of this opinion.
Based on the foregoing, and having regard to legal considerations which
we deem relevant, we are of the opinion that the Shares, when issued and
delivered as described in the Registration Statement, will be legally issued,
fully paid and nonassessable.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to our firm under the caption "Legal
Matters" in the Prospectus contained in the Registration Statement.
Very truly yours,
/s/ Nelson Mullins Riley & Scarborough, L.L.P.
Nelson Mullins Riley & Scarborough, L.L.P.
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EXHIBIT 23.1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation
by reference in this registration statement of our report dated February 12,
1999 (except with respect to the matter discussed in Note 12, as to which the
date is March 25, 1999), included in Amendment No. 4 to Form S-1 Registration
Statement No. 333-76859 of Towne Services, Inc. and to all references to our
Firm included or incorporated in this registration statement.
ARTHUR ANDERSEN LLP
/s/ Arthur Andersen LLP
Atlanta, Georgia
June 23, 1999
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INDEPENDENT ACCOUNTANTS' CONSENT
The Board of Directors
Forseon Corporation:
We consent to the use of our report dated September 18, 1998, except for note 9
which is as of March 25, 1999 incorporated herein by reference and to the
reference to our firm under the heading "Experts" in the prospectus.
KPMG LLP
Los Angeles, California
June 23, 1999
