Bigmar completes initial public offering; Underwriters exercise over-allotment option; Net proceeds to the company are approximately $9.8 million.COLUMBUS, Ohio--(BUSINESS WIRE)--June 26, 1996--Bigmar, Inc. (The Nasdaq SmallCap Market:BGMR BGMR Bigmar Inc. (stock symbol) ; Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. :BGM) today announced the completion of its initial public offering of 1,610,000 shares of Common Stock at $7.50 per share, which included the exercise of the underwriters' over-allotment option in full and payment for the 210,000 shares of Common Stock subject thereto. 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). to the Company totaled approximately $9.8 million, which will be used to acquire, test and/or manufacture oncological and biotechnological products; to repay debt; and for general corporate purposes, including working capital. Bigmar, Inc. is currently engaged in manufacturing and marketing intravenous infusion solutions in Switzerland and Lichtenstein and marketing in Germany raw materials used to manufacture medications for the treatment of prostate enlargement and two generic oncological products, mercaptopurine mercaptopurine: see metabolite. and calcium leucovorin. Over the next 24 months, the Company's strategy is to manufacture, in its state-of-the-art facilities in Switzerland, and market generic oncological drugs. In addition, the Company is in the process of preparing to market certain licensed proprietary oncological and biotechnological products. -0- This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities. Any such offer will be made only by means of a prospectus and only in those jurisdictions in which the making or acceptance thereof would be in compliance with the securities and Blue Sky laws blue sky laws n. laws intended to protect the public from purchasing stock in fraudulent companies that lack substance, such as those selling swamp land, non-existent gold strikes and dry oil wells, or who have no assets besides a post office box. of such jurisdictions. A written prospectus relating to the securities may be obtained from LT Lawrence & Co., Inc., 3 New York Plaza, New York, New York 10004 (212/361-6000). CONTACT: Bigmar, Inc. Bigmar's Investor Relations Counsel Gerald Sweeney, CFO See Chief Financial Officer. The Equity Group, Inc. 614/848-8380 Tamara Ehlin, 212/836-9607 |
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