Autonomous Technologies Arranges Additional $3.1 Million in Equity Financing.ORLANDO, Fla.--(BW HealthWire)--June 16, 1998--Autonomous Technologies Corporation (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 NM: ATCI ATCI Albany Transcomm International ) today announced the completion of a private placement of 600,573 shares of unregistered Common Stock for $5.166 per share to four European institutional investors. The Company expects to file a Registration Statement on Form S-3 in the near future on behalf of these investors covering the resale of the shares of Common Stock. Randy Frey, Chairman 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. , stated, "This European private placement, along with the pending other previously announced financial arrangements, will provide the necessary capital to bring the Company's product to U.S. ophthalmologists and their patients." Autonomous Technologies is engaged in the design and development of next-generation excimer laser A gas laser in which a very short electrical pulse excites a mixture containing a halogen such as fluorine and a rare gas such as argon or krypton. It produces a brief, intense pulse of ultraviolet light. instruments for laser refractive surgery Refractive surgery A surgical procedure that corrects visual defects. Mentioned in: Photorefractive Keratectomy and Laser-Assisted In-Situ Keratomileusis refractive surgery . The Company's LADARVision System combines high speed, laser radar laser radar n. See lidar. eye tracking with precisely controlled narrow beam shaping technology. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements containing terms such as "believes," "does not believe," "no reason to believe," "expects," "plans," "intends," "estimates," or "anticipates" are considered to contain uncertainty and are forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of important factors, including the completion of the financings discussed herein and the timing and amount of necessary capital to bring the Company's product to market. For a discussion of the important factors that could affect the Company's results, please refer to the Overview section, the Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations, and the Risk Factors section in the Company's Annual Report on From 10-K.
CONTACT: Autonomous Technologies
Randy Frey
Chairman & CEO
(407) 384-1600
randyfrey@autonomous.com
or
INVESTOR RELATIONS CONTACTS:
Lippert/Heilshorn & Associates, Inc.
Bruce Voss (Bruce@lhai.com)
(310) 575-4848
Ruth Markowitz (Ruth@lhai.com)
(212) 838-3777
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