Wednesday, November 22, 2000
ATSI Engages Roth Capital as Investment Banker
Evaluating GlobalSCAPE Strategic Options a Priority
SAN ANTONIO--American TeleSource
International Inc. (AMEX:AI - news; ``ATSI'') announced today that ATSI and
GlobalSCAPE have engaged the investment banking firm of Roth Capital
Partners Inc. (``Roth''), one of the largest independent investment
banking and brokerage firms on the West Coast.
Founded in 1984, Roth Capital Partners has raised $3 billion in
135 offerings over the past seven years. In 1999, Roth Capital
Partners led more underwritings for issuers with market caps under
$150 million than any other investment banking firm, outranking such
firms as Merrill Lynch, PaineWebber, CIBC and Bear Stearns. Roth
completed 20 public equity transactions in 1999 raising approximately
$765 million, with an average transaction size of $38 million. In each
of the last six years, Roth Capital Partners ranked in the top twenty
nationally among investment banks in aftermarket performance according
to CommScan EquiDesk.
Roth will serve as the exclusive financial advisor to GlobalSCAPE
to assist management in evaluating Strategic Financing Alternatives,
which may include the following:
- A proposed public offering of GlobalSCAPE's common stock.
- The possible acquisition of third parties by GlobalSCAPE.
- The possible sale of all or a part of ATSI's ownership in
H. Douglas Saathoff, ATSI's Chief Financial Officer, stated, ``We
chose Roth because of their successful track record as a quality, full
service investment banking firm. Both Roth and the Company will work
toward achieving the complementary goals of funding GlobalSCAPE, and
allowing ATSI to leverage off the value of its ownership in
GlobalSCAPE. We will work toward solutions that provide the best
valuation for both companies and their respective shareholders.''
Tim Nicolaou, GlobalSCAPE's Chief Executive Officer, stated,
``Engaging Roth is an important step to support our strategic
initiatives to broaden markets for CuteFTP, targeting digital media
applications; to advance CuteMX technology in markets where
peer-to-peer collaboration reduces the operating cost for e-commerce
sites that handle massive amounts of information; and to build
critical mass, acquire market share, and broaden GlobalSCAPE's brand
through strategic acquisitions.''
Grant Garbers, Managing Director at Roth Capital Partners, stated,
``We look forward to working closely with management in developing a
financial strategy that will allow both ATSI and GlobalSCAPE to pursue
their strategic objectives while at the same time enhance shareholder
Roth Capital, formerly Cruttenden Roth, is a full service firm
offering quality investment banking, research and distribution
services to high quality small-cap companies. Roth is committed to
long-term partnerships with emerging growth companies and the
investors who back them. The company offers a complete range of
brokerage and investment banking services to middle market companies
including public offerings, private placements and M&A advisory, as
well as a full range of brokerage and investment services to both
institutional and private investors.
American TeleSource International Inc. is an emerging
international carrier serving the rapidly expanding niche markets in
and between Latin America and the United States. The Company's
borderless strategy includes the deployment of a ``next generation''
network for more efficient and cost effective service offerings of
domestic and international voice and data. ATSI has clear advantages
over the competition through its corporate framework consisting of
unique licenses, interconnection and service agreements, network
footprint, and extensive retail distribution.
ATSI's Internet software subsidiary, GlobalSCAPE Inc.
(www.globalscape.com), is a leader in the development, marketing,
distribution and support of award winning Internet-based software in a
broad array of categories including file management, multimedia
utilities and Web site development tools.
This news release contains forward-looking statements. These
statements describe management's beliefs and expectations about the
future. We have identified forward-looking statements by using words
such as ``expect,'' ``believe'' and ``should.'' Although we believe our
expectations are reasonable, our operations involve a number of risks
and uncertainties, and these statements may turn out not to be true.
Risks that could cause these statements not to be true include loss of
key customers, inability to obtain additional capital, inability to
make payments to suppliers and lenders on time, dilution of our common
stock, equipment failures leading to service interruptions, failure to
achieve profitability, and other Risk Factors discussed in filings
made by the Company with the SEC.