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Securities and Exchange Commission
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the securities exchange act of 1934
Date of Report (Date of earliest event reported): March 1, 2000
Ariel Corporation
(Exact name of registrant as specified in its charter)
Commission file number: 0-25326
Delaware 13-3137699
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(State of Incorporation) (IRS employer identification number)
2540 Route 130
Cranbury, New Jersey 08512
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(Address of principal executive offices) (Zip Code)
609-860-2900
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(Telephone Number, including area code)
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Item 5. Other Events.
See annexed press release date March 1, 2000.
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Ariel Corporation Raises $8.6 Million
CRANBURY, N.J., March 1 /PRNewswire/ -- Ariel Corp. (Nasdaq: ADSP - news)
announced today that it has raised $8.6 million through the private placement of
2,151,000 common shares. The offering included a matching number of warrants
with an exercise price of $6.875.
Jay H. Atlas, CEO and President, commented ``This offering positions Ariel
to execute its near term growth plans and significantly increases the
institutional holdings of Ariel securities.''
These securities have not been registered under the Securities Act and may
not be offered or sold absent registration or an applicable exemption from
registration under the Securities Act.
More About Ariel
Ariel Corp. (Nasdaq: ADSP - news) is a leading provider of high-density
remote access plug-in cards for applications such as Internet access, corporate
Intranet/Extranet access, on-line services, telecommuting, transaction
processing, and unified messaging. Ariel's remote access products make it easy
for OEMs and system integrators targeting ISPs, corporate enterprises and other
service providers to add high-density remote access to open systems platforms
running a variety of popular operating systems, including Windows NT and Linux.
Ariel's high-density remote access cards provide V.34, V.90- compatible 56K, and
basic rate ISDN remote dial-in, LAN dial-out, and Internet back-haul. Available
in ISA, PCI and CompactPCI formats, the cards connect to T1, E1, ISDN, and POTS
lines. Ariel's remote access products run Windows NT and Linux out of the box.
An SDK is available for OEMs who want to use Ariel's remote access products with
other operating systems.
Statements contained in this press release that are not historical facts
are forward looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, as amended.
Forward looking statements involve risks and uncertainties, including market
acceptance of the Company's products by technical original equipment
manufacturers and internet service providers, the timely development and
acceptance of new products, the impact of competitive products and pricing,
changing market conditions and the other risks detailed from time to time in the
Company's filings with the SEC. These risks and uncertainties could cause actual
results to differ materially from those projected or currently expected. These
forward looking statements represent the Company's judgment as of the date of
this release. The Company disclaims, however, any intent or obligation to update
these forward looking statements.
For more information on Ariel products, please contact Ariel Corporation at
2540 Route 130, Cranbury, NJ 08512. Phone (609) 860-2900. Fax (609) 860-1155.
Email: [email protected]. World Wide Web: http://www.ariel.com.
SOURCE: Ariel Corporation
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SIGNATURES
Pursuant to the requirements of the Securities Exchnage Act of 1934, the
registrant has duly caused this report to be signed on its behalf byt the
undersigned herunto duly authorized.
Dated: March 10, 2000
/S/ John R. Loprete
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John R. Loprete
Vice President Finance
