"The offering was managed by Schneider Securities, Inc. and co-managed by GunnAllen Financial"
News Releases
For Immediate Release
UTEK CORPORATION ANNOUNCES INITIAL PUBLIC OFFERING OF 1.0 MILLION SHARES OF COMMON STOCK AT $6 PER SHARE
Plant City, Fla. - - October 25, 2000 - - UTEK Corporation, Inc. (Nasdaq Small Cap: UTOB) announced today the initial public offering of 1,000,000 shares of its common stock at $6 per share effective October 25, 2000. The common stock has been approved to trade on the Nasdaq Small Cap Market under the symbol "UTOB." More than 80% of the net proceeds from the offering will be used to acquire, develop and transfer new technologies to the market.
The offering was managed by Schneider Securities, Inc. and co-managed by GunnAllen Financial. A copy of the final prospectus related to the offering can be obtained from Schneider Securities, Inc. 1120 Lincoln Street, Suite 900, Denver, Colorado 80203, Attention: Keith Koch, V.P, or by calling 800-822-0224.
Founded in 1997 by Chief Executive Officer Clifford M. Gross, Ph.D., UTEK Corporation is a business development company dedicated to building bridges between university developed technology and commercial organizations utilizing their unique U2Bsm business model. UTEK acquires, licenses and finances the further development of new university technologies for rapidly growing technology companies. UTEK then sells these intellectual capital assets to technology companies for an equity stake. With UTEK's new U2Bsm model, companies can rapidly grow their technology assets while universities receive 100% of the royalties for each transferred technology.
A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. .
Contact:
UTEK CORPORATION
Kathleen A. Call
Lagano & Associates
(941) 594-9705
email: plagano@laganoassoc.com
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