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Stock Market & Financial Investment News

News Breaks
March 20, 2013
08:33 EDTPLUSePlus Technology expands presence in New England
ePlus announced that its subsidiary, ePlus Technology, has increased its sales and engineering teams in New England by adding new locations in Providence, Rhode Island and Portland, Maine. The new team members and locations strengthen ePlus' existing presence in New England, including its offices in Connecticut, Massachusetts, and New Hampshire. The new personnel have a wide range of experience in advanced technologies and services, including networking, storage, security, and advanced video solutions. In addition, the new staff brings particular expertise in the State and Local Government/Education vertical, especially as it relates to E-Rate and grant support services.
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April 21, 2014
16:06 EDTPLUSePlus files to sell 1.79M shares of common for holders, announces repurchase
Stifel and William Blair are the joint book running managers, and Canaccord Genuity is the co-lead manager of the Offering. As part of the Offering, pursuant to a 750,000 share repurchase program authorized by the board of directors on November 14, 2013, the company will enter into an agreement with the underwriters to repurchase up to 400,000 of the 1,791,304 shares of the company's common stock that are the subject of the Offering at a price per share equal to the price per share being paid by the underwriters to the Selling Stockholders in the Offering. ePlus expects to fund the concurrent stock repurchase with cash on hand and proceeds generated by financing a portion of its financing portfolio with non-recourse notes payable. The closing of this concurrent stock repurchase is contingent on the closing of the Offering and the satisfaction of certain other customary conditions. The terms and conditions of the concurrent stock repurchase will be reviewed and approved by a special committee of the board of directors, which is composed entirely of independent directors who are unaffiliated with the Selling Stockholders. The closing of the Offering is not contingent upon the consummation of the concurrent stock repurchase, and there can be no assurance that it will be consummated.

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