BPI Announces Filing of Form S-1 With SEC For Stockholder Rights Offering.NORTH DIGHTON, Mass.--(BUSINESS WIRE)--Dec. 3, 1999-- BPI (Bits Per Inch) The measurement of the number of bits stored in one linear inch of a track (storage channel) on a disk or tape. Bit density on magnetic disks has reached 800,000 bpi (800 Kbpi). See tpi, areal density and magnetic disk. BPI - bits per inch Packaging Technologies, Inc. (the "Company") BPIE BPIE Base Procured Investment Equipment , a manufacturer of thin high molecular weight, high density polyethylene High-density polyethylene (HDPE) is a polyethylene thermoplastic made from petroleum. It takes 1.75 kilograms of petroleum (in terms of energy and raw materials) to make one kilogram of HDPE. films and bags, announced that it filed a Form S-1 with the Securities and Exchange Commission ("SEC") today in connection with a stockholder rights offering. The Company indicated that the proceeds of the rights offering are anticipated to be used for working capital and other corporate-related purposes. The rights offering was approved by the board of directors earlier this year in connection with restructuring the financing arrangements of the Company. The rights offering was subsequently approved by the stockholders at the Company's stockholder meeting held in August. At such meeting, the stockholders gave management the right to increase the authorized number of shares of the Company's common stock, thus allowing management to offer 15,000,000 of such shares to the Company's stockholders as of December 2, 1999 pursuant to the rights offering, at $0.04 per share. The Company converts commercially available high molecular weight, high density polyethylene resins into thin film, which is either sold directly into industrial or packaging applications or converted in-house into carryout car·ry·out adj. Intended to be consumed away from the place of sale; takeout: a shop offering carryout sandwiches. n. An item of food or a meal that is to be consumed away from the place of sale. bags of "T-shirt sack" design for supermarkets, convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. and other retail markets. The Company utilizes advanced, high quality extrusion, printing and bag making equipment, which was installed between 1990 and 1999. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's rights offering has been filed with the SEC, but has not yet become effective. The securities offered in connection with the rights offering may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Statements included in this news release that are not historical in nature are intended to be, and are hereby identified as, "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. " for purposes of the 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. provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect" and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to factors such as those relating to economic, competitive, governmental, technological and other risks and factors identified from time to time in the Company's reports filed with the SEC. |
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