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BancTec Announces Update to Timing of Proposed IPO
Feb 03, 2010 (03:02 PM EST)
DALLAS, Feb. 3 /PRNewswire/ -- BancTec, Inc., a global provider of advanced, high volume document and payment processing solutions and services, today announced that it plans to file the next amendment to its registration statement with the U.S. Securities and Exchange Commission for the previously announced proposed initial public offering of up to $50 million of its common stock in March, 2010, subject to market conditions. The filing will include its audited year-end financial results.
A registration statement relating to BancTec's common stock has been filed with the Securities and Exchange Commission but has not yet become effective. BancTec's common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective absent registration or an applicable exemption from registration requirements. This release does not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
We provide payment processing and document and content processing services and solutions, helping our clients automate their businesses and optimize their management of information. We offer our clients business process outsourcing ("BPO") services and in-house business solutions, including software and hardware products and professional services and maintenance. Our offerings are built around proprietary technology and industry knowledge that we have developed during three decades of working closely with our clients. We serve over 1,600 clients with operations in 55 countries and compete in industries including banking, insurance, government, healthcare, utilities, telecommunications and transportation and logistics.
Forward-Looking Statements All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
SOURCE BancTec, Inc.