Alpharel completes financing agreement with Merrill Lynch.SAN DIEGO--(BUSINESS WIRE)--Oct. 6, 1995--Alpharel Inc. (NASDAQ/NMS:AREL AREL Acute Reference Exposure Level (EPA) ) Friday announced the completion of a term Working Capital Management Account (WCMA WCMA Williams College Museum of Art (Williamstown, MA) WCMA Western Canadian Music Awards WCMA Working Capital Management Account WCMA Wood Component Manufacturers Association WCMA Window Covering Manufacturers Association ) loan with Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Business Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Inc. Merrill Lynch is providing Alpharel with $1 million through the agreement. Proceeds are being used to complete the repayment of a note to the former shareholders of Optigraphics Corp., which was acquired by Alpharel in 1993. "We are very pleased with our new agreement with Merrill Lynch. We had a number of very fine institutions competing for our business, and Merrill offered the most attractive product and terms. We are also pleased to be in the process of completing the final payment for our Optigraphics acquisition. "This event, particularly when taken together with the potential exercise of Alpharel warrants, which may occur in this current quarter, gives Alpharel a remarkably strong balance sheet with which to continue our pattern of aggressive growth," said Stephen Gardner, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alpharel. "Alpharel demonstrated all the characteristics we seek in a company with whom we do business: financial strength, solid growth and a strong managmeent team. We are delighted to have been selected to provide Alpharel this lending facility," stated Michael J. Vorst, first vice president, Merrill Lynch. Alpharel warrants were issued in 1991 as part of a unit offering, and may be converted to one share of common stock at an exercise price of $4.25. The warrants will expire Dec. 12, 1995, unless they are called or exercised prior to that date. There are 862,500 warrants outstanding. With headquarters in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Alpharel is the primary supplier of open document management and imaging software for enterprisewide solutions. The company excels in meeting the challenges of complex environments -- managing access to high volumes of engineering and office documents by many users spread across diverse technologies and locations. Alpharel's client/server software components are available on a variety of platforms including UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (Sun, Hewlett Packard, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) and Silicon Graphics), Apple Macintosh and Windows PCs. Alpharel software offers particular advantages in network utilization in both local and wide area configurations. Alpharel's products are designed to easily integrate with customers' existing applications, providing departmental or corporatewide document management. CONTACT: Alpharel Inc., San Diego Stephen P. Gardner, John W. Low, 619/625-3000 info@alpharel.com |
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