ATC Healthcare Announces Sale of Common Stock in Private Placement
06 Março 2007 - 9:00AM
Business Wire
ATC Healthcare, Inc. (AMEX:AHN), a leader in medical staffing,
today reported the sale of Common Stock and Common Stock Warrants
in a Private Placement. On March 5, 2007, the Company raised
$1,500,000 through the sale of 5,000,000 shares of the Company's
Class A Common Stock and warrants to acquire up to 2,500,000 shares
of Class A Common Stock at $0.45 per share over a five-year period
to an institution and several accredited investors. Bathgate
Capital Partners LLC, an innovative investment bank headquartered
in Greenwood Village, CO, acted as finder for the transaction. The
sale requires that the Company register with the Security and
Exchange Commission the Class A Common Stock and the underlying
warrant shares of the Class A Common warrants by June 30, 2007. The
net proceeds of the sale will be used primarily to continue to
expand the Company�s licensee base through its conversion program
and for general working capital purposes. Management Comments �We
are very pleased that the continuing improvement the Company has
demonstrated recently, is being met with enthusiasm by the
investing community�, remarked David Savitsky, Chief Executive
Officer. �Our goal is to continue ATC�s growth and progress towards
profitability�, added Savitsky. Forward Looking Statements Certain
statements contained in this release that are not statements of
historical facts are �forward-looking statements� within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words � �believe�, �expect�, �anticipate�, �intend�, �will�,
and similar expressions are examples of words that identify
forward-looking statements. Forward-looking statements include,
without limitation, statements regarding our future financial
position, timing of future revenue, business strategy and cost
savings. These forward-looking statements are based on our current
beliefs, as well as assumptions we have made based upon information
currently available to us. These forward-looking statements may be
affected by the risks and uncertainties in our business and are
qualified in their entirety by the cautionary statements and risk
factor disclosure contained in our filings with the Securities and
Exchange Commission, including our annual report on Form 10-K for
the year ended February 28, 2006. We do not assume, and expressly
disclaim, any obligation to update these forward-looking
statements. About ATC Healthcare, Inc. ATC is a national leader in
medical staffing personnel to hospitals, nursing homes, clinics and
other healthcare facilities with 56 locations in 35 states. ATC
provides supplemental staffing, outsourcing and human resource
solutions to hospitals, nursing homes, medical and research
facilities and industry. Drawing from a pool of over 15,000
healthcare professionals spanning more than 50 specialties, the
company supplies both clinical and non-clinical personnel for
short-term, long-term, and �traveling� contract assignments. To
learn more about the company�s services, visit their website at
www.atchealthcare.com.
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