Astro Sciences announces successful completion of $3.7 million private placement.CHATSWORTH, Calif.--(BUSINESS WIRE)--March 21, 1995--Astro Sciences Corp. (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 :AOSC AOSC All Ohio Scanner Club (listeners to shortwave radio) ) today announced that it has completed a private placement of units raising gross proceeds of approximately $3.7 million. The offering was over subscribed by approximately 50%. The proceeds of the offering will be used to repay debt and to provide working capital for an expanded emphasis on R&D and marketing. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. A. Charles Lubash, 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 Astro Sciences Corp., "Given the growth opportunities in the rapdily expanding remote access segment of the networking industry, the completion of this private placement is an important step toward the fulfillment of Astro's strategic plan." Lubash added, "The financing also enhances our balance sheet as we will now have reduced the company's debt to less than 15% of assets." Headquartered in Chatsworth, Astro Sciences Corp., through its J&L Information Systems division (founded in 1982), develops and manufactures communication servers and gateways for local area networks (LANs) and wide area networks (WANs) applications. CONTACT: Astro Sciences Corp., Chatsworth John Grady ''For the author, see John Grady (Author) John Grady (June 18, 1860 - July 15, 1893) played one year of professional baseball for the 1884 Altoona Mountain Citys. Mainly an outfielder, Grady played in 9 games, getting 36 at bats. His batting average was .306. , 818/709-1778 or Strategic Growth International, Inc. Richard E. Cooper/Stan Altschuler, 212/826-9622 |
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