Atlantic Pharmaceuticals Raises $12.5 Million in Private Placement of Equity Securities.RALEIGH, NC--(BUSINESS WIRE)--August 18, 1997--Atlantic Pharmaceuticals Inc. (Nasdaq Small Cap: ATLC ATLC Arbitrary Transmission Line Calculator ATLC Atomic Trades and Labor Council ATLC Air Transport Label Catalog ATLC Advanced Technology Licensing Company ) announced today that it raised gross proceeds of approximately $12.5 million through the private placement of equity securities. The offering, originally intended to raise $7.5 million, was increased to meet investor demand. Paramount Capital, Inc., a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based investment bank, acted as placement agent for the offering. "The completion of this private placement represents an important milestone for Atlantic," said J.D. Lindjord, President and Chief Executive Officer of Atlantic. "The oversubscription Oversubscription The excess number of shares or bonds that investors want to buy but are not available due to high demand. of this offering suggests that investors perceive the strong potential of our diversified portfolio of medical technologies. The funds we have raised will support continuing research to help us fulfill that potential." 1,250,000 shares of Atlantic Seadjustment, based on the prevailing market pristrategy, which differentiates their approach technologies in antisense antisense, DNA or RNA manipulated in a laboratory so that its components (nucleotides) form a complementary copy of normal, or "sense," messenger RNA (mRNA; see nucleic acid). gene therapy, cataract cataract, in medicine, opacity of the lens of the eye, which impairs vision. In the young, cataracts are generally congenital or hereditary; later they are usually the result of degenerative changes brought on by aging or systemic disease (diabetes). removal, prevention of restenosis following coronary angioplasty, and anti-inflammatory/analgesic drugs. As witain forward-looking statements that relate to fse risks described in the company's reports on re information on Atlantic Pharmaceutical's tech are available at no charge through BusinessWire's fax-on-demand service at 888-286-8109. CONTACT: Media -OR- Investors 058 212/664-8489 |
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