NeoPath Inc. announces exercise of overallotment option by underwriters.REDMOND, Wash.--(BUSINESS WIRE)--Jan. 22, 1996--NeoPath 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 :NPTH NPTH Non-Plated Through-Hole (PCB (printed circuit board manufacturing) ) today announced that its underwriters, Invemed Associates Inc., CS First Boston, and Cowen & Co., have exercised in full their option to purchase an additional 375,000 shares of common stock to cover overallotments in connection with its recent public offering. With the exercise of the overallotment option overallotment option See greenshoe. , 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). to the company from the public offering will total approximately $62 million. The company will use the net proceeds from the offering to fund the manufacture of AutoPap Systems for use in the company's pay-per-use program, to expand the company's manufacturing, marketing, sales, and customer service and support capabilities and to provide for working capital and other general corporate needs. NeoPath was established to develop and market products that automate the interpretation of medical images. The company's initial product, the AutoPap(R) 300 QC System, is an automated cytology cytology (sītŏl`əjē), in biology, the study of the structure of all normal and abnormal components of cells and the changes, movements, and transformations of such components. rescreening device intended for use in both quality control and adjunct rescreening of Pap smear Pap smear or Papanicolaou smear Sample of cells from the vagina and cervix of the uterus for laboratory staining and examination to detect genital herpes and early-stage cancer, especially of the cervix. Developed by the Greek-born U.S. slides that have previously been classified as "normal" by a clinical laboratory. This communication does not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of the common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under securities laws of any such state or jurisdiction. CONTACT: NeoPath Inc., Redmond John Stachowiak, 206/869-7284 or Fi.Comm, Seattle Michael Newman, 206/467-6732 |
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