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ROYCE LABORATORIES ANNOUNCES COMPLETION OF PUBLIC OFFERING; NET PROCEEDS TO THE COMPANY WERE APPROXIMATELY $5.8 MILLION

 ROYCE LABORATORIES ANNOUNCES COMPLETION OF PUBLIC OFFERING;
 NET PROCEEDS TO THE COMPANY WERE APPROXIMATELY $5.8 MILLION
 MIAMI, Jan. 16 /PRNewswire/ -- Royce Laboratories, Inc. (NASDAQ: RLAB) announced today that it has completed a secondary public offering of 1,150,000 units (including the over-allotment units). The units each consisted of two shares of common stock and one warrant to purchase one-half share of common stock. The units were priced at $6.00 each.
 The net proceeds to the company of approximately $5.8 million will be used to fund the purchase of new equipment; raw materials; advertising and marketing; research and development; and working capital needs.
 The units were sold by an underwriting syndicate, led by Paradise Valley Securities, Inc., Chatfield Dean & Co., Inc. and First American Biltmore Securities, Inc.
 Royce Laboratories, Inc. is a manufacturer of prescription and over-the-counter generic pharmaceuticals.
 -0- 1/16/92
 /CONTACT: Patrick J. McEnany, president of Royce Laboratories, Inc., 305-624-1500/
 (RLAB) CO: Royce Laboratories, Inc. ST: Florida IN: MTC SU: OFR


AW-JJ -- FL006 -- 0630 01/16/92 15:19 EST
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Publication:PR Newswire
Date:Jan 16, 1992
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