Compex Technologies Announces $8.9 Million Private Placement of Securities.Business Editors/High-Tech Writers NEW BRIGHTON New Brighton, village (1990 pop. 22,207), Ramsey co., SE Minn., a suburb of Minneapolis–Saint Paul; inc. 1891. Its manufactures include metal products, machinery, and leather. A theological seminary is there. , Minn.--(BUSINESS WIRE)--Nov. 19, 2003 Compex Technologies, Inc. (Nasdaq:CMPX CMPX Complex ) today announced that it has entered into definitive agreements with certain independent institutional and other accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". with respect to the private placement of 1,000,000 units of its securities at a purchase price of $8.9072 per unit. Each unit consists of one share of its common stock, $.10 par value per share, and an additional right to purchase a quarter of a share of its common stock at $9.3526 per share. These additional investment rights will expire 90 days after the date of the agreement. The gross proceeds from the private placement will be approximately $8.9 million, and 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). , excluding the proceeds of any exercise of the additional investor rights, will be approximately $8.3 million. The securities offered by Compex Technologies in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from registration requirements. The Company will be obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to prepare and file a registration statement covering the resale of the common stock included in the units and the common stock issuable upon exercise of the additional investment rights. This notice is issued pursuant to Rule 135c under the Securities Act of 1933 and 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 offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Compex Technologies, Inc. is engaged in the manufacture and sale of healthcare products based upon electrical stimulation technologies designed to improve health, wellness, athletic performance and physical fitness. |
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