ALSM Alphasmart (MM)

AlphaSmart, Inc. Announces Initial Public Offering LOS GATOS, Calif., Feb. 6 /PRNewswire-FirstCall/ -- AlphaSmart, Inc. announced today that its initial public offering of 4.4 million shares of common stock was priced at $6.00 per share. AlphaSmarthas agreed to sell 4.0 million shares and selling stockholders have agreed to sell 400,000 shares. Summit Partners, a private equity and venture capital firm, is one of the selling stockholders. The shares will be listed on the Nasdaq National Market under the symbol ALSM and will begin trading today. In addition, the underwriters will have a 30-day option to purchase up to 660,000 shares of common stock from selling stockholders to cover any over-allotments. The managing underwriter for the offering is Jefferies & Company, Inc., and the co-managers of the offering are William Blair & Company and Legg Mason Wood Walker Incorporated. Copies of the final prospectus may be obtained from Jefferies & Company, Inc. at 520 Madison Ave., 12th Floor, New York, New York 10022, Attention: Equity Capital Markets. AlphaSmart, Inc. is a provider of technology solutions for the education market. AlphaSmart's portable computer-companion products are used by students in 7,500 U.S. school districts to enhance writing, keyboarding and comprehension. Based in Los Gatos, California, AlphaSmart was founded in 1992 by former Apple engineers. On February 5, 2004, a registration statement for the securities to be sold in this offering was declared effective by the Securities and Exchange Commission. The public offering is being made by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any statein which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. NOTE: AlphaSmart is a registered trademark of AlphaSmart, Inc. DATASOURCE: AlphaSmart, Inc. CONTACT: Carleen LeVasseur of AlphaSmart Public Relations, +1-408-264-6767, or Web site: http://www.alphasmart.com/

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