Printer Friendly

MAGNA-LAB RECEIVES NET PROCEEDS OF $783,000 FROM UNDERWRITER'S EXERCISE OF OVERALLOTMENT OPTION

 HICKSVILLE, N.Y., May 5 /PRNewswire/ -- Magna-Lab Inc. (NASDAQ: MAGLU, MAGLA, MAGLW, MAGLZ), announced that it has received net proceeds of $783,000 from the sale of 150,000 units to D.H. Blair Investment Banking Corp., the underwriter of its initial public offering, which exercised an overallotment option to purchase the units at the initial public offering price of $6 per unit. Each unit includes a share of common stock and one Class A and Class B warrant.
 The initial public offering of one million units, completed April 6, 1993, produced net proceeds to Magna-Lab of $4.68 million.
 Magna-Lab is developing and intends to manufacture and market a magnetic resonance imaging (MRI) device to scan extremities of the human body such as hands, elbows, knees, feet and head.
 -0- 5/5/93
 /CONTACT: John Haytaian, vice president and CFO of Magna-Lab, 516-575-2111/
 (MAGL)


CO: Magna-Lab Inc. ST: New York IN: HEA SU:

AH-SH -- NY073 -- 4989 05/05/93 15:15 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:May 5, 1993
Words:163
Previous Article:MAGNA GROUP ENTERS DEFINITIVE AGREEMENT FOR ACQUISITION
Next Article:FIRST RESPONSE MEDICAL ANNOUNCES MERGER WITH TITANIC VENTURES LIMITED PARTNERSHIP
Topics:


Related Articles
UNDERWRITERS' OPTION EXERCISED IN ARAMED UNIT OFFERING AND GENSIA COMMON STOCK OFFERING
RESEARCH FRONTIERS' UNDERWRITER EXERCISES OVERALLOTMENT
MID AM, INC. EXERCISES OVERALLOTMENT OPTION
MAGNA-LAB REPORTS RESULTS
MAGNA-LAB REPORTS FIRST QUARTER RESULTS
USX OFFERS U.S. STEEL GROUP COMMON STOCK
CENTERPOINT PROPERTIES ANNOUNCES PUBLIC COMMON STOCK OFFERING
CenterPoint Properties Announces 2.25M Share Common Stock Offering
Genetronics Raises More Than $11 Million (CDN) For Upcoming Multi-Center Clinical Trials
onlinetradinginc.com corp. Underwriters Exercise Common Stock Overallotment.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters