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biz.yahoo.com
Thursday January 27, 11:29 am Eastern Time
Company Press Release
Harris & Harris Group Announces $3 Million Financing
NEW YORK--(BUSINESS WIRE)--Jan. 27, 2000--Harris & Harris Group, Inc. announced today that it has placed privately, with an unaffiliated investor, for $3 million in cash, a one-year, 12% note with one-year warrants to purchase 25,263 shares of Harris & Harris Group common stock at $11.8750 per share. The note may be prepaid at any time. Unless the note is prepaid, six months after its issuance, the investor will receive additional one-year warrants to purchase an additional $300,000 worth of Harris & Harris Group common stock at the then-current market price.
Harris & Harris Group raised this additional capital in response to the strength of its current private equity deal flow, which increasingly is predominately in the fields of telecommunications, the Internet and business-to-business e-commerce. There can however be no assurance that Harris & Harris Group will actually have the opportunity to consummate or will consummate any additional private equity transactions.
Harris & Harris Group is a Business Development Company with 9,240,831 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its Website at hhgp.com.
This press release may contain statements of a forward-looking nature relating to future events. Shareholders are cautioned that such statements are predictions and that actual events or results may differ significantly.
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Contact:
Harris & Harris Group, Inc.
Charles E. Harris
212/332-3606 |
