Printer Friendly

ALAMAR BIOSCIENCES ANNOUNCES PRIVATE FINANCINGS

 SACRAMENTO, Calif., July 15 /PRNewswire/ -- Alamar Biosciences Inc. (NASDAQ: ALMR), a research and development company in the diagnostic testing product area, announced today that it has commenced the first of three separate offerings of units in a financing to private investors, expected to raise in the aggregate approximately $2 million. Each unit consists of one share of common stock and one warrant to purchase a share of common stock.
 Kenneth D. Miller, chief executive officer of Alamar, said funds from the private financing will primarily go toward marketing and research and development efforts as the company continues to develop its line of diagnostic testing products.
 The terms of the warrants are the same as the company's public warrants, which trade on NASDAQ under the symbol ALMRW. Each warrant entitles the registered holder to purchase one share of common stock, commencing on the date the warrant becomes separately transferable until October 14, 1997. The warrants are redeemable by the company at any time commencing Oct. 14, 1993, under certain circumstances. The securities comprising the units are not separable or separately transferable prior to 41 days after issuance.
 The first offering involves soliciting the company's private warrant holders to convert their warrants into units. The second offering will place $500,000 in units into Commonwealth Associates Growth Fund Inc. The final offering will involve Alamar's placement agent, Commonwealth Associates, seeking to raise between $1 million and $2 million in a Regulation S offering of overseas units to non-U.S. investors.
 Alamar Biosciences Inc. is a research and development company that develops, manufactures and markets in vitro (outside the body) diagnostic testing products to identify the type of bacteria and antibiotic dosage level effective in treating bacterial infections, as well as alamarBlue(TM) a nontoxic indicator dye for use in diagnostic testing of pharmaceuticals, cosmetics, household cleaners and personal hygiene products.
 Alamar's common stock is traded on NASDAQ under the symbol ALMR.
 NOTE: This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities. Offers and sales of these securities may be made only to investors meeting certain minimum suitability standards and may be made only pursuant to a written confidential offering memorandum.
 -0- 7/15/93
 /NOTE TO EDITORS: For information on Alamar Biosciences Inc. by FAX, dial 800-FRO-INFO, extension 141./
 /CONTACT: Mark Santor of Alamar Biosciences, 916-567-3475; or Elizabeth Truax of the Financial Relations Board, 415-986-1591, for Alamar Biosciences/
 (ALMR)


CO: Alamar Biosciences Inc. ST: California IN: MTC SU: FNC

TM -- SF009 -- 1974 07/15/93 12:46 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 15, 1993
Words:427
Previous Article:BUCKEYE PARTNERS L.P. ANNOUNCES EARNINGS
Next Article:VERIFONE'S PNC+PLUS(TM) SOFTWARE INTEGRATES DOS-BASED COMPUTERS WITH VERIFONE TRANSACTION AUTOMATION SYSTEMS
Topics:


Related Articles
ALAMAR BIOSCIENCES PRODUCES FIRST NON-TOXIC IN VITRO INDICATOR DYE -- EXPECTED TO SIGNIFICANTLY REDUCE TOXICITY TESTING ON ANIMALS
ALAMAR BIOSCIENCES REPORTS FIRST QUARTER EARNINGS
ALAMAR BIOSCIENCES ANNOUNCES UNIT SPLIT, COMMON SHARES AND WARRANTS AVAILABLE FOR PURCHASE
ALAMAR BIOSCIENCES ADDS 3NET SOFTWARE TO GROWING PRODUCT LINE
ALAMAR BIOSCIENCES ADDS MAJOR ANTIBIOTIC TO DIAGNOSTIC TEST KITS AFTER SECURING FDA CLEARANCE
ALAMAR BIOSCIENCES RAISES OVER $3.1 MILLION THROUGH PRIVATE FINANCINGS
ALAMAR BIOSCIENCES ANNOUNCES PROPOSED PRIVATE PLACEMENT
ALAMAR BIOSCIENCES REACHES AGREEMENT IN PRINCIPLE WITH SCHERER HEALTHCARE
ALAMAR BIOSCIENCES ANNOUNCES CUTBACKS
AccuMed International Reports Results for Second Quarter Ended June 30, 1996

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters