Computer Marketplace Inc. to Acquire U.S. Cancer Care Inc.CORONA, Calif.--(BUSINESS WIRE)--April 8, 1998--Computer Marketplace 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 : "MKPL MKPL Mount Kisco Public Library (Mt Kisco, NY) ") announced today that it has entered into a letter of intent to acquire U.S. Cancer Care Inc., a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. recently formed to acquire outpatient radiation therapy and oncology centers. Under the terms of the non-binding letter of intent, Computer Marketplace will issue 10,000,000 shares of its Common Stock for all of the outstanding stock of U.S. Cancer Care. The closing of the proposed transactions is subject to (i) the completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by both parties, (ii) the execution of a definitive agreement, (iii) the raising of funds by the company from the exercise of certain outstanding options and warrants, (iv) the approval of the proposed transaction by the stockholders of Computer Marketplace and (v) the simultaneous closing by U.S. Cancer Care on the acquisition of four facilities located in California and Florida. The consummation of the acquisitions is subject to, among other things, the receipt of sufficient financing and negotiation and execution of definitive acquisition documentation. Kiley, chief executive officer and president of Computer Marketplace Inc. commented, "We are very pleased to have entered into a letter of intent with U.S. Cancer Care. Specialized medical clinics are growing nationwide and oncology centers are particularly strong. We are impressed by the U.S. Cancer Care management team and expect great accomplishments from them. We look forward to finalizing the documentation and starting our new business." The negotiations regarding the proposed sale of the company's Medical Marketplace Inc. subsidiary to Meridian Technology Leasing Services have been terminated. The company is actively seeking an acquiror for the Medical Marketplace medical equipment business. Computer Marketplace Inc. distributes computer equipment and creates value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. solutions for its customers. A specialist in delivering advanced technology, MKPL also sells and rents used medical equipment through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Medical Marketplace Inc. CONTACT: Computer Marketplace, Inc. Patricia O'Leary, Investor Relations Investor relations The process by which the corporation communicates with its investors. 909/735-2102 |
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