FOR IMMEDIATE RELEASE
Contacts:
Philip Summers Sandra O'Keefe
VP, Corporate Marketing Alexander Ogilvy Public Relations
SoftLock.com Inc. [email protected]
[email protected] www.alexanderogilvy.com
www.softlock.com (212) 880-5315
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978-461-4146
SOFTLOCK ANNOUNCES SERIES B PREFERRED STOCKHOLDERS HAVE AGREED NOT
TO CONVERT THEIR PREFERRED SHARES
MAYNARD, MA - November 13, 2000 - SoftLock.com, Inc. (NASDAQ: SLCK), a leader in
the digital content economy, today announced that the majority of the company's
Series B Preferred Stockholders have agreed in principle that they, subject to
various conditions, will not convert their Series B Preferred Stock to Common
Stock. Under terms of the agreement, the Series B Preferred Stockholders will
not trade in the company's securities until June 1, 2001. Furthermore, the
company will issue the Series B Preferred Stockholders warrants to purchase
1,825,040 shares of the company's common stock at an exercise price of $2.25 per
share.
About SoftLock
SoftLock.com, Inc. (NASDAQ: SLCK), a recognized leader in the digital content
economy, is defining the way digital information is securely marketed,
distributed and sold online. SoftLock's dynamic network of publishers, branded
partners and affiliates drives valuable digital content to a maximum audience,
giving businesses the power to generate new revenue and build brand awareness.
SoftLock provides the infrastructure and integrated services businesses need to
sell secured premium digital content to consumers. SoftLock is based in Maynard,
MA. For more information please visit www.softlock.com.
# # #
SoftLock(R) is a registered trademark of SoftLock.com, Inc. eMerchandising, The
SoftLock CyberSales Solution, the SoftLock Chain Reaction Channel and the
SoftLock Merchandising Network are trademarks of SoftLock.com. All other
products or company names are trademarks or registered trademarks of their
respective owners.
This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such statements are subject to
risks and uncertainties that could cause actual results to vary materially from
those projected in the forward-looking statements. SoftLock.com may experience
significant fluctuations in future operating results due to a number of
economic, competitive and other factors, including, among other things, the size
and timing of customer orders, changes in laws, new or increased competition,
delays in new products, production problems, changes in market demand, market
acceptance of new products, seasonality in product purchases and availability of
capital to finance intended expansion of operations. These factors and others
could cause operating results to vary significantly from those in prior periods,
and those projected in forward-looking statements. Additional information with
respect to these and other factors, which could materially affect the Company
and its operations, are included in the Company's fillings with the Securities
and Exchange Commission and are incorporated herein.
