American Dental Partners, Inc. Announces Increase of Credit Line to $75 Million.Business/Technology Editors WAKEFIELD, Mass.--(BUSINESS WIRE)--Aug. 1, 2000 American Dental Partners, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADPI ADPI Alpha Delta Pi Sorority ADPI American Dairy Products Institute ADPI Analog Devices (Philippines) Inc ADPI Australian Dance Performance Institute (Brisbane, QLD, Australia) ) announced today that it increased its revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. to $75 million from $50 million. The amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. facility, which matures in July 2004, retains Fleet National Bank, as agent, and also includes Sovereign Bank, Citizen's Bank and Key Bank as participants. The Company intends to use the increased line of credit for general corporate purposes, including potential future affiliations. "The expanded credit line will allow us to continue our growth plans for the foreseeable fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. future," said Gregory Serrao, Chief Executive Officer of American Dental Partners. "We are pleased that despite today's difficult financing market, our Company continues to have the confidence and support of the credit markets. While this revolving line of credit reflects current market conditions in terms of pricing, the other terms and conditions remain substantially the same as our past credit line. We are also pleased to be able to continue our relationship with Fleet Bank who has been with us since the early stages of our company", added Mr. Serrao. American Dental Partners is one of the nation's leading providers of business services to dental groups. The Company is affiliated with 19 dental groups and operates 149 dental facilities with more than 1,300 operatories located in 13 states. Note: Some of the information in this press release contains "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. " within the meaning of 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. The words "believe," "expect," "anticipate," "project," and similar expressions, among others, identify forward-looking statements. Forward-looking statements speak only as of the date the statement was made. Such forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied. Certain factors that might cause such a difference include, among others, the Company's risks associated with its acquisition and affiliation strategy, management of rapid growth, dependence upon affiliated dental groups, dependence upon service agreements and government regulation of the dental industry. Additional risks, uncertainties and other factors are set forth in the "Risk Factors" section of the Company's Registration Statement on Form S-4 (File No. 333-56941). |
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