(COMTEX) B: Hadron Noteholders Convert to Equity; Company Receives Ne
B: Hadron Noteholders Convert to Equity; Company Receives New Investment
ALEXANDRIA, Va., Sep 6, 2000 /PRNewswire via COMTEX/ -- Hadron, Inc. (OTC
Bulletin Board: HDRN) today announced that $850,000 of the Company's Convertible
Notes have been converted into shares of restricted common stock, at a price of
$1.25 per share.
The Company also announced that two new members of its Board of Directors and
two principals of investment banking and brokerage firm, Wachtel & Co., Inc.,
have purchased restricted equity of the Company in the form of 75,000 units,
each consisting of one share of common stock and a warrant to purchase one share
of common stock, at $0.75 per unit. The five-year warrants are exercisable at
$0.75 per share. The two directors, Dr. Gerald R. "Mac" McNichols and Mr. Gerald
R. Young, were appointed to the Board on June 12, 2000.
"We are pleased with this vote of confidence from investors well known in the
investment community and from other investors with expertise in our specialized
business area," said Jon M. Stout, Hadron's President and Chief Executive
Officer. "These investments further strengthen the Company's financial
position," added Mr. Stout.
Bonnie K. Wachtel, the Chief Executive Officer of Wachtel & Co., Inc., said,
"Jon Stout's appointment marks a new entrepreneurial era for Hadron. We are
delighted to participate."
Hadron specializes in developing innovative technical solutions for the
intelligence community, analyzing and supporting defense systems (including
intelligent weapons systems and biological weapons defense), and supporting
complex computer systems. Hadron can be found on the Internet at www.hadron.com
.
Except for the historical information contained herein, this press release
contains forward-looking statements within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended, that involve a number of risks
and uncertainties. These forward-looking statements may be identified by
reference to a future period by use of forward-looking terminology such as
"anticipate", "expect", "could", "may" and other words of similar nature. There
are certain important factors and risks that could cause results to differ
materially from those anticipated by the statements contained herein. Such
factors and risks include business conditions and growth in the information
services, engineering services, software development and government contracting
arenas and in the economy in general. Competitive factors include the pressures
toward consolidation of small government contracts into larger contracts awarded
to major, multi-national corporations; and the Company's ability to continue to
recruit and retain highly skilled technical, managerial and sales/marketing
personnel. Other risks may be detailed from time to time in the Company's
filings with the Securities and Exchange Commission. Hadron undertakes no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
SOURCE Hadron, Inc.
CONTACT: Amber Gordon of Hadron, Inc., 703-329-9400, ext. 311, or
agordon@hadron.com
URL: hadron.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: Virginia
INDUSTRY KEYWORD: CPR
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