KENT, Wash., Jan. 30 /PRNewswire-FirstCall/ -- Flow International
Corporation (Nasdaq: FLOW), the world's leading supplier of ultrahigh-pressure
waterjet products, today announced that it has entered into a Fourth Amendment
to Registration Rights Agreement with certain institutional investors, as it
relates to the terms of a Private Investment in Public Equity transaction
("PIPE Transaction") that the Company completed on March 21, 2005, raising net
proceeds of slightly less than $60 million.
Under the terms of the PIPE Transaction, the Company was obligated to
register the shares of common stock being sold, and the shares issuable upon
exercise of the warrants, for resale on a registration statement to be filed
within 60 days of the Closing Date, to become effective within 180 days of the
Closing Date or the Company would incur certain penalties. Subsequent
amendments to the terms established later dates for the registration statement
to become effective. With this Fourth Amendment, the registration statement
must become effective within 354 days of the Closing Date -- by March 10, 2006
-- or certain penalties will be incurred. All other terms of the PIPE
Transaction remain unchanged.
About Flow International
Flow International Corporation is the world's leading developer and
manufacturer of ultrahigh-pressure waterjet cutting technology to industries
including automotive, aerospace, job shop, surface preparation, and more. For
more information, visit http://www.flowcorp.com.
Contact: John Leness
General Counsel
253-850-3500
SOURCE Flow International Corporation
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Related links:
http://www.flowcorp.com
CONTACT:
John Leness, General Counsel of Flow
International, +1-253-850-3500
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