Bio-Plexus Announces Financing.VERNON, Conn.--(BW HealthWire)--April 27, 1999-- Bio-Plexus today announced a private placement convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. financing of up to $4,500,000. "This funding will help enable 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>. the exciting growth opportunities available today as the market converts to safety medical products," said Richard L. Higgins, President 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. of Bio-Plexus. "Right now only about 10% of all needle markets are safety devices. But we expect these figures to change as additional states join Maryland, Tennessee and California in passing legislation mandating the use of safety needles," Higgins added. Bills continue to be introduced in other states, and Federal OSHA OSHA n. Occupational Safety and Health Administration, a branch of the US Department of Labor responsible for establishing and enforcing safety and health standards in the workplace. is also considering more stringent regulations to ensure the use of safe needles. Bio-Plexus, Inc. (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 :BPLX), is a designer, developer, manufacturer, and marketer of safety medical products and needles under the PUNCTUR-GUARD(R) and DROP-IT(R) brand names. The company holds U.S. and international patents on safety medical devices designed to reduce the incidence of accidental needlesticks among healthcare workers. Accidental needlesticks number more than one million per year in the United States and can result in the transmission of deadly diseases including HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and hepatitis. NOTE: THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS, WHICH ARE SUBJECT TO RISKS AND UNCERTAINTIES. THE ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED IN ANY SUCH FORWARD-LOOKING STATEMENT AS A RESULT OF FACTORS DESCRIBED FROM TIME TO TIME IN THE COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION OR DISCUSSED IN OTHER PRESS RELEASES ISSUED BY THE COMPANY. |
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