Physiometrix Announces $8.2 Million Private Placement Financing
03 Dezembro 2003 - 11:36AM
PR Newswire (US)
Physiometrix Announces $8.2 Million Private Placement Financing NO.
BILLERICA, Mass., Dec. 3 /PRNewswire-FirstCall/ -- Physiometrix,
Inc. announced today that it has entered into a definitive
agreement for gross proceeds of approximately $8.2 million in a
private placement of common stock. The group of investors includes
Special Situations Funds, Winslow Management Company, A division of
Adams Harkness & Hill, Med-Cap Partners LP, Valor Capital
Management and Pro-Med Partners. Physiometrix will issue
approximately 5.0 million shares of common stock based on the
average of the closing bid prices for the five trading days ended
December 1, 2003. In conjunction with the financing, the company
will issue warrants to purchase additional shares of its common
stock. The company intends to use the net proceeds from the private
placement to advance its commercialization efforts for the PSA 4000
anesthesia monitoring system and other general corporate purposes.
"We are gratified to have received such a positive response to our
financing efforts," said John A. Williams, president and chief
executive officer of Physiometrix. "We believe it is a strong
indicator of the value of our technology and we are very proud of
the roster of well-respected investors," concluded Williams. This
press release does not constitute an offer to sell or the
solicitation of an offer to buy any security. The common stock has
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 or an applicable exemption from
registration requirements. Physiometrix has agreed to file a
registration statement covering resales of the shares of common
stock by the investors, including any common stock issuable upon
exercise of the warrants. Designed for use by anesthesiologists and
critical care specialists, the PSA 4000 is a device that enables
clinicians to monitor and manage a patient's level of consciousness
under anesthesia in the operating room or intensive care unit. The
PSA 4000 has the potential to enhance patient care, improve
recovery times and save lives in hospitals across the U.S. and
around the world. Physiometrix Inc. designs, manufactures and
markets noninvasive medical products -- based on novel gel
materials, sophisticated signal-processing electronics
technologies, and proprietary software -- for use in anesthesia-
monitoring during surgical procedures Safe Harbor Statement
Statements in this press release regarding Physiometrix's growth
and future business results of the Company are "forward-looking"
statements as defined in the Private Securities Litigation Reform
Act of 1995. Such statements are based upon management's current
expectations and are subject to a number of factors and
uncertainties. Information contained in these forward-looking
statements is inherently uncertain, and actual performance and
results may differ materially due to many important factors. Such
factors that could cause actual results to differ materially from
any forward-looking statements made by the Company include, among
others, revenue estimates, dependence on existing and future
products, uncertainty of market acceptance, intense competition,
partnership agreements, and government regulations, especially
regulatory approvals. Other relevant risks are described in the
Company's Form 10-K filed March 28, 2003 and Form 10Q dated
November 14, 2003, with the SEC. CONTACT: Daniel W. Muehl, CFO,
Physiometrix Inc., 978-670-2422 DATASOURCE: Physiometrix, Inc.
CONTACT: Daniel W. Muehl, CFO, Physiometrix Inc., +1-978-670-2422
Web site: http://www.physiometrix.com/
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