PHOTOGRAPHIC SCIENCES CORPORATION ANNOUNCES COMPLETION OF PRIVATE STOCK PLACEMENT TO INSTITUTIONAL INVESTORS
PHOTOGRAPHIC SCIENCES CORPORATION ANNOUNCES COMPLETION
OF PRIVATE STOCK PLACEMENT TO INSTITUTIONAL INVESTORS
WEBSTER, N.Y., Nov. 14 /PRNewswire/ -- Photographic Sciences Corporation (NASDAQ: PSCX) today reported that it has completed its previously announced private placement of its common stock to selected institutions which qualify as accredited investors. The net proceeds to the company are approximately $5,000,000. The Robinson-Humphrey Company Inc. of Atlanta, acted as placement agent. The proceeds are to be used for debt reduction, plant expansion, equipment purchases, possible acquisitions, none which have as yet been identified, and other corporate purposes.
Photographic Sciences Corporation is a leading manufacturer of equipment for the worldwide automatic data collection industry. Products include hand-held laser bar code scanners, bar code verifiers, interface systems and bar code film masters.
/CONTACT: David A. Kostizak of Photographic Sciences Corporation, 716-265-1600/
(PSCX) CO: Photographic Sciences Corporation ST: New York IN: CPR SU: LC -- CL006 -- 4402 11/14/91 11:45 EST