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UNDERWRITERS OFFER ONE MILLION SHARES OF SUMMIT TECHNOLOGY, INC. COMMON STOCK AT $18 PER SHARE

 WALTHAM, Mass., July 20 /PRNewswire/ -- Summit Technology, Inc. (the "company") (NASDAQ: BEAM) today announced the public offering of one million shares of its common stock at a price of $18 per share. The shares are being offered through an underwriting group managed by Bear, Stearns & Co. Inc. and Piper Jaffray, Inc., pursuant to a Prospectus available from the underwriters. The underwriters have been granted an option to purchase up to an additional 150,000 shares to cover overallotments. The company's common stock is traded on the NASDAQ National Market System under the symbol "BEAM".
 Proceeds from the offering will be used for 1.) the acquisition of certain patents, 2.) expansion of the company's manufacturing, selling, marketing, service and administrative capabilities, 3.) funding and development of a network of outpatient clinics, and 4.) continuation of the company's research and development and regulatory efforts.
 Summit Technology, Inc. is a worldwide leader in the development, manufacture and sale of ophthalmic laser systems designed to correct common refractive vision disorders such as nearsightedness, farsightedness and astigmatism.
 -0- 7/20/93
 /CONTACT: Paula Rainville, investor relations of Summit Technology, 617-890-1234/
 (BEAM)


CO: Summit Technology, Inc. ST: Massachusetts IN: MTC SU: TNM

DD -- NE017 -- 6872 07/20/93 13:25 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
Words:205
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