KENT, Wash., Feb. 22 /PRNewswire-FirstCall/ -- Flow International
Corporation (Nasdaq: FLOW), a supplier of ultrahigh-pressure waterjet
products, today announced that its Form S-1 registration statement, which was
filed with the Securities and Exchange Commission for the sale of 19,987,270
shares of the Company's common stock and warrants, has been declared
effective. The registration statement covers the resale from time to time of
shares issued to certain institutional investors under the terms of a Private
Investment in Public Equity transaction ("PIPE Transaction") that the Company
completed on March 21, 2005, raising net proceeds of nearly $60 million. This
includes 17,799,179 shares of common stock and 1,707,010 shares of stock
issuable upon exercise of warrants issued in the PIPE transaction. The
registration statement also covers the resale from time to time of 481,081
shares of stock issuable upon exercise of warrants issued to the Company's
lenders in connection with certain loan transactions.
Copies of a written prospectus can be obtained by contacting the Company's
General Counsel, John Leness, at 253-850-3500 or by writing to the same at the
Company's corporate headquarters at 23500 64th Avenue South, Kent, Washington,
98032.
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
About Flow International
Flow International Corporation is the 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,
+1-253-850-3500, for Flow International Corporation
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