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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
Report of Foreign Issuer
PURSUANT to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
Filing No. 1 for the month of September, 1999
Bid.Com International Inc.
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(Exact name of Registrant)
6725 Airport Road, Suite 201, Mississauga, ON Canada L4V 1V2
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F
Form 20-F X Form 40-F _
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes_ No X
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BID.COM INTERNATIONAL INC.
On September 16, 1999, the Company issued a press release announcing a
planned private placement to raise Cdn$25 million (approximately US$17.2
million). The press release is filed as an exhibit to this Form 6-K.
Exhibit 1. Press Release issued September 16, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BID.COM INTERNATIONAL INC.
Date: September 16, 1999 By: /s/ Mark Wallace
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Name: Mark Wallace
Title: Executive Vice-President
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NEWS BULLETIN BID.COM International Inc.
FROM: RE: 6725 Airport Road, Suite 201
Mississauga, ON L4V 1V2
The Financial Relations Board Tel: 905-672-7467/Facsimile: 905-672-5705
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BSMG WORLDWIDE Website: www.bid.com
(Nasdaq: BIDS, TSE:BII)
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BID.COM ANNOUNCES UNDERWRITING AGREEMENT
TO RAISE CDN$25 MILLION
TORONTO, ONTARIO - September 16, 1999 - Bid.Com International Inc. (Nasdaq:
BIDS, TSE:BII), one of North America's leading online auction companies, today
announced that it has entered into an underwriting agreement with a Canadian
investment bank to raise cash proceeds of Cdn$25 million (approximately US$17.2
million) from the sale of Special Warrants.
Each Special Warrant, priced at Cdn$9.25, will entitle the holder to acquire one
unit consisting of one common share in the capital of Bid.Com and one-half of a
non-transferable common share purchase warrant. Each whole share purchase
warrant can be exercised to acquire one additional common share at an exercise
price of Cdn$12.00 per share for 24 months. Paul Godin, Chairman of Bid.Com
International Inc. indicated that "net proceeds of the Issue will be used to
fund growth through strategic alliances and acquisitions and for general working
capital purposes."
The securities offered in the private placement will not be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
in the United States without registration under such Act or an exemption from
registration. 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 securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction.
Bid.Com, founded in 1995, is one of e-commerce's leading online auction sales
organizations, with offices in Toronto, Ontario, Tampa, Florida and Dublin,
Ireland. The company offers a compelling, entertaining and cost-effective
method of selling a wide array of goods and services over electronic
distribution channels. Bid.Com is strategically positioned to leverage its
business-to-consumer technological leadership by offering the pre-eminent online
auction platform for co-ventures into business-to-business markets, licensing
custom branded e-commerce solutions and for distribution through broadband/cable
media. In addition to strategic alliances with America Online, Chapters.ca and
Rogers New Media, the company has recently announced an alliance with SCS Solars
offering discounted travel products to the growing business-to-business market
and a joint venture with Point2 Internet Systems providing e-commerce technology
and online auction capabilities for the used heavy equipment market. The
company's shares trade on both the Nasdaq National Market and the Toronto Stock
Exchange.
The news release may include comments that do not refer strictly to historical
results or actions and may be deemed to be forward-looking within the meaning of
the Safe Harbor provisions of the U.S. federal securities laws. This include,
among others, statements about expectations of future revenues, cash flows and
capital requirements. Forward-looking statements are subject to risks and
uncertainties that
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Bid.Com International Inc.
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may cause the Company's results to differ materially from expectations. These
risks include the Company's ability to further develop its business-to-business
and licensing businesses, the Company's ability to develop appropriate strategic
alliances and successful development and implementation of technology,
acceptance of the Company's products and services, competitive factors, new
products and technological changes, and other such risks as the Company may
identify and discuss from time to time, including those risks disclosed in the
Company's amended Form 20-F filed with the Securities and Exchange Commission.
Accordingly, there is no certainty that the Company's plans will be achieved.
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At The Company: At The Financial Relations Board:
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Greg Bewsh, Vice President, Investor Relations Alison Ziegler - General Info.
Tel: (905) 672-7467 ext. 322 Barbara Manley - Analyst Info.
Fax: (905) 672-9928 Claudine Cornelis - Media Info.
E-mail: [email protected] (212) 661-8030
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