SANTA CLARA, Calif., April 14 /PRNewswire-FirstCall/ -- Applied Imaging
Corp. (Nasdaq: AICX) today announced that it has completed the private
placement of 3.1 million shares of common stock and warrants to purchase
620,000 additional shares of common stock for an aggregate purchase price of
$4.25 million. Each warrant is exercisable for one share of common stock at an
exercise price of $1.70 per share, from six months following the closing until
October 13, 2009, subject to certain adjustments. C.E. Unterberg, Towbin acted
as placement agent with respect to the transaction.
"We are very pleased by the success of this private placement," commented
Carl Hull, Chief Executive Officer of Applied Imaging. "The funds received
will strengthen our financial position and allow accelerated development of
our OncoPath(TM) systems and related products."
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security. The shares and warrants have
not been registered under the Securities Act of 1933 or applicable state
securities laws and may not be offered or sold in the United States absent
registration under the Securities Act and applicable state securities laws or
an applicable exemption from registration requirements. Applied Imaging has
agreed to file a registration statement covering the resale of the shares and
the shares issuable upon exercise of the warrants.
This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding, among other
matters, the impact of the private placement on the development of our
OncoPath systems and related products. These statements are subject to
various risks and uncertainties that could cause actual results to differ
materially, including, but not limited to the fact that consummation of the
private placement is subject to conditions to closing and thus the closing may
be delayed or may not occur. The forward-looking statements are made as of
April 14, 2004, and Applied Imaging is under no obligation to revise or update
the forward-looking statements.
SOURCE Applied Imaging Corp.
 back to top
CONTACT:
Barry Hotchkies, CFO of Applied Imaging
Corp., +1-408-562-0250; or Jocelyn Hunter of Financial Relations
Board, +1-415-248-3433, for Applied Imaging Corp.
|
