Hi all:
Just thought I should post the news release about the new offering of shares that Gerald's mentioning. My take? Good in the long run, but in the short run the dilution could (should?) weaken the price. I'll continue to hold.
Best to all,
Andy Patton. News Release follows below
Friday October 17 8:26 PM EDT
Company Press Release
Affymetrix, Inc. Files Public Offering of 1.5 Million Shares of
Common Stock
SANTA CLARA, Calif., Oct. 17 /PRNewswire/ -- Affymetrix, Inc. (Nasdaq:AFFX) announced today that it has filed a
registration statement with the Securities and Exchange Commission for a public offering of 1.5 million shares of common
stock.
The Company said it plans to use the net proceeds for manufacturing scale- up, expansion of research and development
facilities, laboratory equipment and information systems, expansion of sales and marketing, working capital and other general
corporate purposes.
The Company said Goldman, Sachs & Co.; BancAmerica Robertson Stephens; Credit Suisse First Boston; and NationsBanc
Montgomery Securities, Inc. will manage the offering. A written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933 may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, New York, 10004.
The Company said it will grant the underwriters an option to buy up to 225,000 shares to cover over-allotments, if any.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement
becomes effective. This announcement 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 in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state.
Affymetrix, Inc. has developed and intends to establish its GeneChip (R) system as the platform of choice for acquiring,
analyzing and managing complex genetic information in order to improve the diagnosis, monitoring and treatment of disease.
The Company's GeneChip system consists of disposable DNA probe arrays containing gene sequences on a chip, instruments
to process the probe arrays, and software to analyze and manage genetic information.
All statements in this press release that are not historical are forward- looking statements. Such statements are subject to risks
and uncertainties that could cause actual results to differ materially for Affymetrix from those projected, including, but not
limited to, uncertainties relating to technological approaches, product development, manufacturing, and market acceptance,
uncertainties related to cost and pricing of Affymetrix' product, dependence on collaborative partners, uncertainties relating to
sole source suppliers, uncertainties relating to FDA and other regulatory approvals, competition, risks relating to intellectual
property of others and the uncertainties of patent protection. These and other risk factors are discussed In Affymetrix' annual
report and in the report filed with the Securities and Exchange Commission on Form 10-K for the year ended December 31,
1996 and on Form 10-Q for the quarter ended June 30, 1997 as filed on August 14, 1997. These forward-looking statements
speak only as of the date hereof. Affymetrix specifically disclaims any obligation or undertaking to release publicly any updates
or revisions to any forward-looking statements contained herein, to reflect any change in the Company's expectations with
regard there to or any change in events, conditions, or circumstances on which any such statements are based. Affymetrix,
GeneChip and the Affymetrix logo are registered trademarks of Affymetrix, Inc.
This news release contains statements of a forward-looking nature relating to future events or the future financial performance
of Oncormed. Investors are cautioned that such statements are only predictions and that actual events or results may differ
materially. In evaluating such statements, investors should specifically consider the various factors which could cause actual
events or results to differ materially from those indicated by such forward- looking statements, including the matters set forth in
the Company's Annual Report for the year ended December 31, 1996 or Form 10-K filed with the Securities and Exchange
Commission and in the Company's other reports and documents filed from time to time with the Securities and Exchange
Commission.
SOURCE Affymetrix, Inc. |
