ENVIROGEN ANNOUNCES INITIAL PUBLIC OFFERING
ENVIROGEN ANNOUNCES INITIAL PUBLIC OFFERING LAWRENCEVILLE, N.J., Aug. 11 /PRNewswire/ -- Envirogen, Inc.
announced today the initial public offering of 1,230,000 shares of its common stock at $7 per share.
The offering is being managed by Allen & Company Incorporated. Envirogen said it intends to use the net proceeds from this offering for research and development, the purchase of laboratory and field equipment and general working capital purposes. After the offering, Envirogen will have 5,865,000 shares outstanding, without giving effect to the 184,500 shares issuable to cover over-allotments. Envirogen is an innovative environmental biotechnology company dedicated to the business of discovering, developing and applying new and effective solutions to the task of degrading or transforming toxic and hazardous wastes. Through its subsidiary, Vapex Environmental Technologies, Inc., the company also designs and implements vapor extraction systems for the on-site removal of organic contaiments from soils and groundwater. Envirogen common stock will trade in the NASDAQ National Market under the quotation symbol "ENVG." A final prospectus relating to these securities may be obtained from Allen & Company Incorporated, 711 Fifth Ave., New York, 10022. /delval/ -0- 8/11/92 /CONTACT: Roger J. Colley, president of Envirogen, Inc., 609-936-9300/ (ENVG) CO: Envirogen, Inc. ST: New Jersey IN: SU: OFR
MJ-CC -- PH027 -- 9135 08/11/92 17:01 EDT
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|Date:||Aug 11, 1992|
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