Alliance Pharmaceutical Announces Registration.Business Editors NEW YORK--(BUSINESS WIRE)--March 27, 2000 Harris Harris, Scotland: see Lewis and Harris. & Harris Group Inc. (Nasdaq:HHGP HHGP Hudson Highland Group, Inc ) noted today that Alliance Pharmaceutical Corp. (Nasdaq:ALLP ALLP Aldo Leopold Leadership Program ) (www.allp.com) "announced today that it has filed an S-3 Registration Statement for 4,588,483 shares of common stock associated with several previously announced transactions." Once the registration is effective, it is Harris & Harris Group's understanding that the holders of the registered shares would be able to sell them in the open market, but would not be required to do so. Harris & Harris Group has been informed that its 800,000 shares of Alliance Pharmaceutical common stock will be included in this registration. Harris & Harris Group acquired these shares privately in May 1999 in the form of a convertible note and warrants which have since been converted and exercised. The average cost of Harris & Harris Group's shares in Alliance Pharmaceutical is $2.12. On Dec. 31, 1999, the last date on which Harris & Harris Group valued its holdings and prior to its exercise of its warrants for $490,000, Harris & Harris Group valued its holdings in Alliance Pharmaceutical at a total of $5,041,000. Alliance Pharmaceutical was founded by Harris & Harris Group and was Harris & Harris Group's first private equity investment in 1983. Harris & Harris Group is a Business Development Company with 9,240,831 common shares issued and outstanding. Detailed information about Harris & Harris Group and its holdings can be found on its Web site at www.hhgp.com. This press release may contain statements of a forward-looking nature relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events. Statements contained in this press release that are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are intended to be made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provisions for the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group Inc. undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. |
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