Bio-Plexus initiates 1.5 million common share offering.TOLLAND, Conn.--(BUSINESS WIRE)--Sept. 15, 1995--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 , NMS See NetWare Management System. :BPLX), the manufacturer of the patented self-blunting Punctur-Guard(R) safety needle, announced today that its public offering 1.5 million shares of common stock at $11.25 per share was declared effective by the Securities and Exchange Commission. The company has also granted to the underwriters an option to purchase up to an additional 225,000 shares of common stock solely to cover over-allotments. Advest Inc. is the managing underwriter Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. for the offering. The company plans to use the estimated 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 $15.1 million from the offering (excluding any proceeds from the exercise of the underwriters' over-allotment option) for working capital to sustain ongoing operations, including improving and expanding manufacturing processes, supporting research and development, increasing sales and marketing activities to achieve greater market penetration, and to fund anticipated increases in accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying and inventory; to repay debt obligations; and to purchase additional machinery and equipment. A prospectus relating to the offering may be obtained from Advest Inc., One Commercial Plaza, 280 Trumbull Street, Hartford, CT, 06103. CONTACT: Bio-Plexus Inc. Christina Tamburro, 203/871-8601 or Porter LeVay & Rose Inc. Marilynn Meek, 212/564-4700 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion