When it rains, it pours:
Ultrafem Comments on Current Status
NEW YORK, Dec. 19 /PRNewswire/ -- Ultrafem, Inc. (Nasdaq: UFEM)
announced today that the completion of the previously disclosed financing is
not imminent. In addition to continuing its efforts with respect to a financing,
the Company is exploring other alternatives, including, the potential sale of
the Company, its individual assets or distribution rights.
In an unrelated matter, the Company also announced that a charge has been
filed against Ultrafem, Inc. and John Anderson, Chief Executive Officer, with
the Equal Employment Opportunity Commission by Audrey Contente,
Executive Vice President, alleging sexual harassment and retaliation. The
Company denies the material allegations of the charge and believes that
there is no basis for liability and plans to vigorously defend the claim.
Ultrafem is a women's health care company. The Company's business
strategy is to develop, manufacture and market proprietary products based
on its patented SoftCup(R) Technology directed at high potential,
underserved segments of the women's health care market. The Company
completed an initial public offering in February 1996 and a secondary
financing in November 1996 to support the launch of its first commercial
product, INSTEAD(R).
The statements contained in this release which are not historical facts are
forward-looking statements that involve risks and uncertainties. Such risks
include, but are not limited to, the changing priorities of customers, other
marketing risks, potential competitive response, and the need for additional
financing to successfully market and distribute INSTEAD(R) as well as for
unforeseen risks, among other factors affecting the business which are
described in the Company's prospectus. Management wishes to caution the
reader that any forward-looking statements are only predictions; actual
events or results may differ materially as a result of risks facing the
Company.
/CONTACT: Philip L. Thomas of The P.L. Thomas Group, Inc.,
312-906-8060, for Ultrafem, Inc./
Not fun,
Larry |
