Commodore Environmental Services announces IPO for second subsidiary.NEW YORK--(BUSINESS WIRE)--Sept. 12, 1996--Commodore Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, , Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :COES COES College of Engineering and Science COES Committee on Open Electronic Systems COES Clinical Operational Equipment Sets ) announced today that its wholly-owned subsidiary, Commodore Separation Technologies, Inc. has filed a registration statement with the Securities and Exchange Commission relating to a proposed underwritten initial public offering of 5,000,000 shares of common stock and 5,000,000 common stock purchase warrants of Commodore Separation Technologies. It is anticipated that the offering, which will only be made by means of a prospectus, will commence in October, and if completed as filed, Commodore Environmental Services will own 75 percent of Commodore Separation Technologies following the offering. The 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 the offering will be used to fund inventory, ongoing development costs, manufacturing capabilities, facilities, proposed collaborative ventures and for other purposes, including working capital and general corporate purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be a sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state. On June 28, 1996, another subsidiary of Commodore Environmental Services, Inc., Commodore Applied Technologies, Inc., completed its initial public offering of common stock and common stock purchase warrants, raising $35,000,000. Commodore Environmental Services, Inc. owns 72 percent of Commodore Applied Technologies, Inc. On July 29, 1996, Commodore Environmental Services and Lanxide Corporation (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :LNXI) announced that the two companies had begun discussions regarding a possible business combination. CONTACT: Commodore Environmental Services Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Melissa C. Berkowitz - Shareholders John Peterson - Media 212/308-5800 |
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