Applied Science and Technology, Inc. Underwriters Exercise Over-Allotment Option.WOBURN Woburn, village, England Woburn (w  `bərn), village, Bedfordshire, S central England. , Mass.--(BUSINESS WIRE)--April 6, 1999--Applied Science and
Technology, Inc. ("ASTeX") (NASDAQ NASDAQin 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 :ASTX) announced today that the underwriters of the Company's recent public offering of common stock have exercised their over-allotment option to purchase an additional 300,000 shares of common stock, bringing the total shares issued in this offering to 2.3 million. This exercise has yielded an additional $3.1 million in proceeds for the company. The total net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering to ASTeX of approximately $23 million will be used for general working capital purposes, including expansion of sales and marketing activities, new product development, purchases of laboratory and manufacturing equipment, and potential acquisitions and joint ventures. Underwriters for the offering were Needham & Co., Inc., SoundView Technology Group, and Advest, Inc. ASTeX provides precision reactive reactive /re·ac·tive/ (re-ak´tiv) characterized by reaction; readily responsive to a stimulus. re·ac·tive adj. 1. Tending to be responsive or to react to a stimulus. 2. gas processing solutions and specialty power sources to the semiconductor, electronics, medical, and industrial markets. Our broad product line is based on one or more of our core technologies including reactive gas processing, power sources, and system integration. Depending on our customers' needs, we provide varying levels of integration -- from components to integrated subsystems to complete process systems. Our reactive gas solutions give our customers a competitive advantage by improving their time to market with lower costs and less complexity. For more information, visit the ASTeX web site at www.astex.com. "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. " statement under 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: This 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. that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, general economic conditions, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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