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CLINTRIALS COMPLETES SALE OF 2.3 MILLION SHARES OF COMMON STOCK IN INITIAL PUBLIC OFFERING

 NASHVILLE, Tenn., Dec. 1 /PRNewswire/ -- ClinTrials, Inc. (NASDAQ: CCRO) announced the completion of the initial public offering of 2 million shares of common stock along with 300,000 of common stock which was sold through the over-allotment option granted to the underwriters.
 The initial public offering priced at $9 per share was led by J.C. Bradford & Co. and Piper Jaffray Inc.
 Net proceeds from the offering and the over-allotment option will be used to repay debt and for general corporate purposes, including working capital and possible future acquisitions.
 ClinTrials, Inc., headquartered in Nashville, is a full-service clinical research organization (CRO) serving the pharmaceutical, biotechnology and medical device industries in the U.S. and Europe. The company designs, monitors, and manages clinical trials, and provides clinical data management and biostatistical services. Included among the company's 36 clients are the 10 largest pharmaceutical companies in the world.
 -0- 12/1/93
 /CONTACT: John W. Robbins, CFO of ClinTrials, 800-346-7931, or Melissa Wilmoth of Cameron Associates, 212-644-9560/
 (CCRO)


CO: ClinTrials, Inc. ST: Tennessee IN: MTC SU: OFR

CK-WB -- NY084 -- 9330 12/01/93 13:26 EST
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Publication:PR Newswire
Date:Dec 1, 1993
Words:184
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