Bitstream Inc. (Nasdaq: BITS) today announced that its board of directors has fixed March 8, 2012 as the record date (the “Record Date”) for the spin-off distribution (the “Spin-Off”) of its wholly-owned subsidiary, Marlborough Software Development Holdings Inc. (“MSDH”). On March 14, 2012, each owner of Bitstream Class A Common Stock will receive a distribution of one share of MSDH Common Stock for each share of Bitstream Class A Common Stock that they owned as of the close of trading on the Nasdaq Capital Market on the Record Date.
Forward Looking Statements Disclosure
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements due to certain risks and uncertainties, including, without limitation, market acceptance of the Company’s products, competition and the timely introduction of new products. Additional information concerning certain risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements is contained in the Company’s filings with the Securities and Exchange Commission, including Bitstream’s Annual Report on Form 10-K for the year ended December 31, 2010, as supplemented by Bitstream’s subsequent quarterly reports on Form 10-Q in 2011. We undertake no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise after the date of this document.
About the Spin-OffThe shares of MSDH to be issued in the Spin-Off will be distributed pursuant to a prospectus dated February 14, 2012 filed as part of MSDH’s registration statement on Form S-1, File No. 333-177915, that was declared effective by the Securities and Exchange Commission on February 14, 2012. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any MSDH securities nor will there be any distribution of the MSDH common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.