ChiRex files registration statement; Proposes public offering of common stock to finance combination of Sterling Organics Limited and SepraChem.MARLBOROUGH, Mass.--(BUSINESS WIRE)--Feb. 8, 1996 -- ChiRex Inc., a company newly formed to combine SepraChem Inc. and Sterling Organics Limited, announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering of 6,675,000 shares of its Common Stock to be sold by the company. It is intended that the Common Stock will be listed on the Nasdaq Stock Market's National Market under the symbol "CHRX". The offering is being lead-managed by CS First Boston First Boston Corporation was a New York-based investment bank, founded in 1932 and acquired by Credit Suisse in 1988, when it became 'CS First Boston'. Globally referred to as Credit Suisse First Boston after 1996, the First Boston part of the name was phased out in 2006. and co-managed by Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. and Smith Barney Inc. It is currently estimated that the initial public offering price will be between $12 and $14 per share. ChiRex Inc. develops, manufactures and markets fine chemicals and, through its joint venture, InNova Pharmaceuticals, formulated generic drugs. This new entity will apply SepraChem's chiral chi·ral adj. Of or relating to the structural characteristic of a molecule that makes it impossible to superimpose it on its mirror image. chi·ral chemistry process technology and Sterling Organics' large-scale chemical manufacturing capabilities. SepraChem, previously operating as the Chiral Chemistry business of Sepracor Inc. (Nasdaq: SEPR SEPR Senior Enlisted Performance Report ), has over 50 patents and patent applications relating to advanced technologies utilized in the manufacture of single isomer isomer (ī`səmər), in chemistry, one of two or more compounds having the same molecular formula but different structures (arrangements of atoms in the molecule). Isomerism is the occurrence of such compounds. chiral chemicals. Sterling Organics' Dudley facility is one of the world's largest fine chemical manufacturing sites and is operated to U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) current good manufacturing practices (cGMP) and ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9002 standards. Additionally, Sterling is presently commissioning its brand new, state-of-the-art pilot plant facilities and research and development center at the Dudley site. A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may any offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. CONTACT: ChiRex Inc. Jean Devine, 508/460-1212 |
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