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Biotech / Medical : PBSC - Packard BioScience
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To: scaram(o)uche who started this subject2/10/2001 12:21:13 PM
From: nigel bates   of 19
 
Feb. 9 /PRNewswire/ -- Packard BioScience Company (Nasdaq: PBSC - news) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed offer and sale of 10 million shares of Company common stock. Of these shares, 3 million shares will be issued and sold by the Company, and 7 million shares will be sold by selling stockholders. In addition, certain stockholders will grant the underwriters options to purchase an additional 1.5 million shares to cover over-allotments. The Company stated it intends to use the net proceeds from the sale of its shares in the offering for general corporate purposes. The Company will not receive any proceeds from the sale of shares by the selling stockholders. Approximately 4.5 million shares from the selling stockholders will be sold as a result of shares issued in connection with the acquisition of the life sciences division of GSI Lumonics, Inc.
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