BPI Packaging Technologies Inc. Announces Private Placement.N. DIGHTON, Mass.--(BUSINESS WIRE)--Nov. 10, 1997--BPI Packaging Technologies Inc. ("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 ") (NASDAQ/NMS:BPIE BPIE Base Procured Investment Equipment ) (Common Stock), today announced that it has closed on a private placement with institutional investors raising approximately $4.0 million including the $1.7 million previously announced on Aug. 27, 1997. Dennis N. Caulfield, chairman and chief executive officer, stated, "The monies raised demonstrate strong confidence in BPI's future and will allow us to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. several technological and market breakthroughs for the Company's proprietary thin, clear film." BPI Packaging Technologies Inc. is a leading manufacturer of proprietary plastic 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, referred to as t-shirt bags, sold to 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 produce departments of supermarkets and proprietary thin plastic film for use as an overwrap for products by industrial and consumer packaging companies and proprietary in-store advertising and promotion products. Certain statements contained in this press release are not based on historical facts, but 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, that are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Actual events and results may materially differ from anticipated results described in such statements. CONTACT: BPI Packaging Technologies Inc. Dennis N. Caulfield, 508/824-8636 or Tower Research Associates Arthur Stupay, 216/861-4816 |
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