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CUSTOMEDIX COMPLETES A PRIVATE OFFERING OF SHARES OF ITS COMMON STOCK

CUSTOMEDIX COMPLETES A PRIVATE OFFERING OF SHARES OF ITS COMMON STOCK
 BERKELEY HEIGHTS, N.J., Feb. 20 /PRNewswire/ -- Customedix Corporation (AMEX: CUS) announced today that it had completed a private offering of 465,000 shares of its common stock, $.01 par value, to certain members of its management at $1-3/8 per share, which was the closing market price of a share of common stock on the date the offering was authorized by the board. The number of shares sold represented approximately 14.5 percent of the outstanding shares of the company's common stock on the closing date.
 Substantially all of the proceeds of the offering will be used to settle certain equipment and capital lease obligations of the company's subsidiary, Automatic Injection Molding, Inc., which, as previously announced, has defaulted on these leases and which is discontinuing its operations. The settlement was necessary since the company had guaranteed these lease obligations. The balance of the proceeds of the offering, if any, will be used for working capital purposes.
 -0- 2/20/92
 /CONTACT: Gordon S. Cohen, chairman and CEO, or Barry L. Kosowsky, assistant treasurer, 203-265-7397; or Andrew A. Miller, CFO, 908-464-2214, all of Customedix/
 (CUS) CO: Customedix Corporation ST: New Jersey IN: HEA SU: OFR


GK-OS -- NY030 -- 0876 02/20/92 11:33 EST
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Publication:PR Newswire
Date:Feb 20, 1992
Words:216
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