Autonomous Technologies Closes $9 Million Private Placement.ORLANDO, Fla.--(BW HealthWire)--July 2, 1997--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 : ATCI ATCI Albany Transcomm International ) announced today that it closed the previously announced transaction for the private sale of 3,000,000 shares of Common Stock at $3.00 per share. A resale registration statement pertaining to these shares was declared effective on June 30, 1997 by the Securities and Exchange Commission. EVEREN Securities, Inc. acted as the placement agent for this private placement. The 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). of the offering will be used to fund the Company's costs of clinical trials, new product development, other on-going operations, and capital expenditures and working capital. As a result of the sale of these shares, the Company has approximately 9.9 million shares of common stock outstanding. ATCI is engaged in the design and development of the 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 . ATCI's T-PRK(R) (Tracker-assisted Photorefractive Keratectomy) instrument combines high speed, laser radar eye-tracking (LADARVision(R)) with precisely controlled, narrow-beam shaping technology. -0- The statements in this press release which express belief, anticipation or expectations, as well as other statements which are not historical fact, are forward looking statements 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 and involve risks and uncertainties that could cause actual results or performance of the Company to differ materially from the results or performance described herein. CONTACT: Autonomous Technologies Roslyn Palmiere Investor Relations 407/384-1603 -OR- Lippert Heilshorn & Associates, Inc. Evan D. Smith, CFA/Olga Fleming evan@lhai.com/olga@lhai.com 212/838-3777 |
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