Datametrics Announces Private Placement of $5 Million Offering of Subordinated Notes and Common Stock.FLORHAM PARK, N.J.--(BUSINESS WIRE)--Dec. 29, 1998--Datametrics Corporation (AMEX AMEX See: American Stock Exchange :DC) today announced the private placement of approximately $3.45 million of 10% Subordinated Notes due 2000 (the "Subordinated Notes") and $1.55 million in shares of the company's Common Stock. The Subordinated Notes, which are unsecured and callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. under certain conditions, provide for Datametrics Corporation to issue 5-year warrants exercisable into the company's Common Stock at a price of $1.50 per share. As part of the offering, investors holding $1.75 million of the company's 7% Convertible Debentures issued earlier in the year exchanged their holdings for the new Subordinated Notes. In addition, holders of $500 thousand of the company's 1996 Senior Subordinated Debentures also exchanged their Debentures for the new Subordinated Notes. 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 approximately $2.75 million from the sale of Subordinated Notes and Common Stock will be used for debt retirement and working capital purposes. "This financing will provide Datametrics Corporation with capital to continue to implement programs for our Condor(TM) and Harrier harrier, breed of dog harrier, breed of medium-sized hound whose origin is obscure but whose existence in England dates from the 13th cent. It stands from 19 to 21 in. (48.3–53.3 cm) high at the shoulder and weighs from 40 to 50 lb (18.1–22. (TM) thermal transfer See thermal wax transfer printer and direct thermal printer. printers in the traffic and safety, sign making, silk screening and textile industries," stated Daniel P. Ginns, Chief Executive Officer. Additional information about Datametrics Corporation, as well as a recent product review of DmC's Condor(TM) thermal transfer printer by the Association of Color not of the white race; - commonly meaning, esp. in the United States, of negro blood, pure or mixed. See also: Color Thermal Transfer Technologies Inc., can be found on the worldwide web at www.datametricscorp.com. The Condor(TM) thermal transfer printer product review can be found by accessing the press release button on DmC's home page. Datametrics Corporation, the leader in concurrent thermal transfer technology, specializes in the design, development and manufacture of high-speed color printers, high-resolution, non-impact printers/plotters and ruggedized computers, printers and workstations for government, defense and industrial markets. DmC has operations in New Jersey, Florida and California. Except for the historical information contained herein, the matters in this press release are forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve a number of risks and uncertainties, such as the inherent uncertainty in sales volume related to new product introductions, quarterly fluctuations in operating results, the timely availability of new products, the impact of competitive products and pricing, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including Datametrics Corporation's Annual Report on Form 10K for the year ended Oct. 26, 1997. These risks and uncertainties could cause results to differ materially from any forward-looking statements made in this press release. |
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