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THERMOTREX RECEIVES COMMITMENT FOR PRIVATE PLACEMENT OF COMMON STOCK OF THERMOLASE SUBSIDIARY

 SAN DIEGO, Calif., March 3 /PRNewswire/ -- ThermoTrex Corporation (AMEX: TKN) announced today that it has received commitments for the sale of approximately 19 percent of the outstanding shares of common stock of its ThermoLase Inc. subsidiary to a group of investors in a private placement arranged through National Westminster Bank PLC P Capital Markets Branch, and NatWest Securities Limited.
 Investors in the private placement will also receive redemption rights entitling them to sell their shares back to ThermoLase in December 1996 and 1997 at the private placement price. ThermoLase's obligations under the redemption rights will be guaranteed by Thermo Electron Corporation on a subordinated basis. The estimated gross proceeds to ThermoLase Inc. from the offering will be approximately $15.3 million. After the offering, ThermoTrex will own approximately 81 percent of ThermoLase's common stock.
 ThermoLase is seeking to develop and eventually commercialize a proprietary new system for providing long- term removal of unwanted hair. The process would use laser technology to remove hair quickly and painlessly. This new process is subject to approval by the U.S. Food and Drug Administration. If the technology proves successful, ThermoLase plans to offer this service in a series of clinics located throughout the country.
 ThermoTrex Corporation develops advanced technology in electro-optic and electro-acoustic systems, signal processing, materials technology, lasers, and thermionic and thermoelectric direct-energy conversion. The company also manufactures and markets imaging systems for early detection of breast cancer. In addition, ThermoTrex is developing other commercial products for the medical imaging and avionics industries. ThermoTrex Corporation is a public subsidiary of Thermo Electron Corporation.
 -0- 3/3/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO TKN)


CO: Thermo Electron ST: Massachusetts IN: SU:

TM -- NE002 -- 2312 03/03/93 09:06 EST
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Publication:PR Newswire
Date:Mar 3, 1993
Words:290
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