As part of the purchase consideration for the Transaction,
In addition, The Registry Management Company will pay an earn-out to
theglobe.com equal to 10% (subject to certain minimums) of The Registry
Management Company's net revenue derived from ".travel" names registered by
the Company through
The Transaction is subject to the negotiation and closing of a definitive purchase agreement, receipt of an independent fairness opinion, and shareholder approval. The Transaction is expected to close no earlier than the second quarter of 2008.
Safe Harbor -- this press release includes forward-looking statements
related to theglobe.com, inc. that involve risks and uncertainties, including,
but not limited to, risks and uncertainties relating to whether or not the
proposed Transaction will be consummated. No definitive agreement has been
entered into between theglobe and The Registry Management Company, and even if
one is executed in the future, the anticipated conditions to closing of such
an agreement, some of which are specified above, may not be satisfied. Our
ability to curtail or reduce expenses also involves many risks and
uncertainties. These forward-looking statements are made in reliance on the
"Safe Harbor" provisions of the Private Securities Litigation Reform Act of
1995. For further information about these and other factors that could affect
theglobe.com's future results and business plans, please see the Company's
filings with the Securities and Exchange Commission, including in particular
our Annual Report on Form 10-K for the year ended
Contact: Edward Cespedes 954-769-5948 edc@corp.theglobe.com
SOURCE theglobe.com