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TSI SHELF REGISTRATION STATEMENT FOR WARRANTS TO PURCHASE COMMON STOCK AND COMMON STOCK FOR SECURITYHOLDERS DECLARED EFFECTIVE BY SEC

TSI SHELF REGISTRATION STATEMENT FOR WARRANTS TO PURCHASE COMMON STOCK
 AND COMMON STOCK FOR SECURITYHOLDERS DECLARED EFFECTIVE BY SEC
 WORCESTER, Mass., July 6 /PRNewswire/ -- TSI Corporation (NASDAQ: TSIN) announced today that its warrants to purchase common stock began trading on the NASDAQ National Market System under the symbol TSINW and that its shelf registration statement previously filed with the Securities and Exchange Commission had become effective for secondary sales of 640,000 warrants to purchase common stock and an aggregate of 2,115,105 shares of common stock, all of which will be sold by selling securityholders other than executive officers and directors of the company.
 The warrants represent the warrants included in the units issued in connection with the establishment of Exemplar Corporation, which was formed in 1991 to fund certain research and development by the company. As of July 1, 1992, the warrants separated from the units. As of July 6, 1992, the warrants are independently transferable without restriction. The warrants are exercisable at $8 per warrant at any time through Jan. 31, 1996.
 The registered shares include the 640,000 shares of common stock issuable upon exercise of the warrants, and the remaining shares represent common stock held by or issuable to securityholders who have piggyback registration rights, including 83,149 shares issuable upon exercise of outstanding Class D warrants and 455,657 of the shares issuable upon exercise of the company's outstanding unit purchase options which were first issued at the company's initial public offering in 1989, and upon exercise of certain warrants issuable thereunder.
 The company will receive none of the proceeds from the sale of the warrants or shares of common stock by the selling securityholders. The company will receive $1,544,999 if all Class D warrants are exercised and if all 455,657 of the shares being registered for issuance under the unit purchase options are purchased. The company does not expect the warrants to be exercised until shortly before they expire in 1996.
 The public offering price of the warrants and the shares is expected to be based upon the prevailing market price of the company's shares at such time, from time to time, as the shares are sold by selling securityholders. A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained by contacting Munro W. Pitt at the address or telephone number listed above.
 TSI is a life sciences company offering in vitro and in vivo preclinical and toxicology testing services, human clinical testing services and diagnostic intermediate products. TSI is also developing advanced toxicology tests and disease models based on genetic engineering and transgenic techniques to improve the efficiency of the pharmaceutical/chemical development process.
 -0- 7/6/92
 /CONTACT: Munro W. Pitt, senior vice president of TSI, 508-755-0550, or Robert Gottlieb of Feinstein Partners Inc., 617-577-8110, for TSI/
 (TSIN) CO: TSI Corp. ST: Massachusetts IN: MTC SU: OFR


CN -- NE004 -- 6535 07/06/92 09:51 EDT
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Publication:PR Newswire
Date:Jul 6, 1992
Words:499
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