Edgewater Announces NASDAQ Due Bill Trading Requirements for Special Cash Dividend

WAKEFIELD, Mass., Oct. 31, 2018 (GLOBE NEWSWIRE) -- Edgewater Technology, Inc. ("Edgewater"), a Delaware corporation listed on the NASDAQ Global Market EDGW, announced that, due to the contingent nature of Edgewater's previously announced special cash dividend, NASDAQ has determined that Edgewater common stock will trade with "due-bills" representing an assignment of the right to receive the special cash dividend during the period from October 30, 2018 until the close of trading on November 1, 2018.

Edgewater stockholders who sell shares through NASDAQ on or after October 30, 2018 until the close of trading on November 1, 2018 will also sell their entitlement to the special cash dividend to the respective purchasers of the shares.

As previously announced, the special cash dividend of U.S.$1.15 per share of Edgewater common stock will be paid on or around November 9, 2018 to Edgewater stockholders of record as of October 31, 2018 and is conditional upon the closing of the business combination between Edgewater and Alithya Group Inc., which is expected to close on November 1, 2018.

Due bills obligate sellers to deliver the dividend to buyers. The due bill obligations are settled customarily between the brokers representing the buyers and sellers of stock. Edgewater has no obligation for the amount of the due bill or the processing of the due bill. Buyers and sellers of Edgewater common stock during the due bill period should consult with their broker before trading in Edgewater common stock to be sure they understand the effect of due-bill procedures.

About Edgewater

Edgewater EDGW helps business leaders drive transformational change through its unique selection of business and technology services and specialized product-based solutions.

Classic consulting disciplines (such as business advisory, process improvement, organizational change management, and domain expertise) are blended with technical services (such as digital transformation, technical roadmaps, data and analytics services, custom development, and system integration) to help organizations get the most out of their existing IT assets while creating new digital business models.

Delivering both on premise and in the cloud, Edgewater partners with Oracle and Microsoft to offer Business Analytics, BI, ERP, EPM and CRM solutions. Edgewater Ranzal, an Oracle Platinum Consulting Partner, provides Business Analytics solutions leveraging Oracle EPM, BI, and Big Data technologies. Edgewater Fullscope delivers innovative Microsoft ERP, CRM and BI solutions. The award-winning company is one of the largest resellers of Microsoft Dynamics 365 (formerly Dynamics AX and CRM).

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Edgewater's current beliefs, expectations or intentions regarding future events. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding the expected timetable for completing the proposed business combination and any other statements regarding the Edgewater's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Edgewater's control, which could cause actual results to differ materially from the results expressed or implied by the statements.

These risks and uncertainties include, but are not limited to: the timing to consummate the proposed business combination; the conditions to closing of the proposed business combination may not be satisfied or that the closing of the proposed business combination otherwise does not occur; the risk that a court approval that may be required for the proposed business combination is not obtained or is obtained subject to conditions that are not anticipated; and actions by third parties, including governmental agencies.

Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Edgewater's SEC filings. Edgewater's filings may be obtained by contacting Edgewater or the SEC or through Edgewater's web site at http://www.edgewater.com/ or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov.

The foregoing list of risk factors is not exhaustive. These risks, as well as other risks associated with the proposed business combination, are more fully discussed in the prospectus/proxy statement that is included in the Registration Statement filed with the SEC in connection with the proposed business combination. Edgewater does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Source

Paul McNeice
Interim CFO
pmcneice@edgewater.com
(781) 246-6994