CHEMTRAK INCORPORATED FILES INITIAL PUBLIC OFFERING
CHEMTRAK INCORPORATED FILES INITIAL PUBLIC OFFERING SUNNYVALE, Calif., Feb. 5 /PRNewswire/ -- ChemTrak Incorporated,
manufacturer of the AccuMeter(R) Total Cholesterol Test, has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of 2,000,000 shares of common stock to be offered at an estimated price of $11 to $13 per share through an underwriting group managed by Dean Witter Reynolds Inc., Volpe, Welty & Company and Needham & Company, Inc.
Net proceeds of the proposed offering will be used for working capital, manufacturing scale-up, research and development and other general corporate purposes. Founded in 1985, ChemTrak develops, manufactures and markets quantitative, easy-to-use, disposable diagnostic tests for worldwide point-of-care markets, including the consumer retail and physician office markets. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release 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 registration or qualification under the securities laws of any such state. A prospectus regarding the proposed initial public offering may be obtained from Dean Witter Reynolds Inc., Volpe, Welty & Company, or Needham & Company Inc. -0- 2/5/92 /CONTACT: Terry Duryea, vice president-finance of ChemTrak, 408-773-8156/ CO: ChemTrak Incorporated ST: California IN: MTC SU: OFR SM -- NY009 -- 7022 02/05/92 08:52 EST
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|Date:||Feb 5, 1992|
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