SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 17, 1999
Donaldson, Lufkin & Jenrette, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
1-6862 13-1898818
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(Commission File Number) (I.R.S. Employer
(Identification No.)
277 Park Avenue, New York, New York 10172
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code; (212) 892-3000
Item 5. Other Events
A press release dated March 17, 1999, issued by Donaldson, Lufkin &
Jenrette, Inc., is filed herewith as an exhibit. The press release concerns the
filing of a preliminary registration statement with The Securities and Exchange
Commission relating to a proposed initial public offering of a new class of
common stock that will track the performance of DLJdirect, its online brokerage
service.
(c) Exhibit
Exhibit 99.2 Press release dated March 17, 1999.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Donaldson, Lufkin & Jenrette, Inc.
/s/ Marjorie White
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Marjorie White
Secretary
March 18, 1999
FOR IMMEDIATE RELEASE
Media Contact: Investor Contact:
Catherine Conroy Kevin Zuccala
Donaldson, Lufkin & Jenrette Donaldson, Lufkin & Jenrette
212-892-3275 212-892-4693
DLJ FILES INITIAL PUBLIC OFFERING OF TRACKING STOCK FOR DLJDIRECT
NEW YORK, NEW YORK, MARCH 17, 1999 - Donaldson, Lufkin & Jenrette, Inc.
(NYSE: DLJ) announced today that it filed a preliminary registration statement
with The Securities and Exchange Commission relating to a proposed initial
public offering of a new class of common stock that will track the performance
of DLJdirect, its online brokerage business. No offering size or price range was
indicated.
DLJdirect is a provider of online discount brokerage and related
investment services, offering customers automated securities order placement and
information and research capabilities through the Internet and online service
providers. DLJdirect's investment services include access to DLJ-managed initial
public offerings and DLJ investment research.
Donaldson, Lufkin & Jenrette will allocate the net proceeds from this
offering to DLJdirect in a manner analogous to a primary offering of common
stock. DLJdirect plans to use the proceeds to fund increases in marketing
expenditures, for international expansion, to repay a note to DLJ and for other
general corporate purposes.
DLJ will be the lead manager of the offering and DLJdirect will act as
the exclusive Internet distributor. The offering is expected to be completed
during the second quarter of 1999. DLJ will retain those shares of DLJdirect
that are not sold to the public.
Following the offering, two series of common stock of Donaldson, Lufkin
& Jenrette, Inc. will trade on the New York Stock Exchange. DLJ common stock
presently trades on the New York Stock Exchange under the symbol "DLJ."
DLJdirect has applied for a separate listing on the New York Stock Exchange to
trade under the symbol "DIR."
A registration statement relating to these securities has been filed
with The Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to the
time that the registration statement becomes effective. 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 state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
A copy of the registration statement will be available on the
Securities and Exchange Commission's web site at www.sec.gov. A prospectus
relating to the offering may be obtained from Donaldson, Lufkin & Jenrette,
277 Park Avenue, New York, New York, 10172, or from DLJdirect at 888-456-4355.
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