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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: jean who wrote (14121)	7/1/1999 7:39:00 PM
From: Spice, J. K.	Read Replies (2) \| Respond to of 26039

Identix Completes $15 Million Equity Financing July 1, 1999 07:25 PM SUNNYVALE, Calif.--(BUSINESS WIRE)--July 1, 1999--Identix Inc. IDX , a leading provider worldwide of live-scan and biometric verification systems, Thursday announced that it has completed a $15 million private placement of common stock. The investments were made by Heights Capital Management, a private equity investor in emerging growth companies, and Marshall Capital Management Inc., a wholly owned subsidiary of Credit Suisse/First Boston. Hambrecht & Quist served as the company's placement agent on this transaction. The company sold approximately 1.8 million shares of common stock at a 5 percent discount from the average closing bid price for the previous 10 trading days. In addition, the company issued the investors warrants to purchase additional shares of common stock at a premium. These warrants enable the investors to purchase up to approximately 900,000 shares until Jan. 1, 2001 and an additional 350,000 shares until July 1, 2004. Under the terms of the agreement, the company will register the resale of the shares issued in the initial sale and underlying the warrants. Terms of the transaction include a provision that could result in a one-time issuance of additional warrant shares if the registration statement is not effective by July 23, 1999 and the market price of the common stock is less than $8.71 on the date of effectiveness. The company intends to promptly file a registration statement covering the shares of common stock. Identix Chairman & Chief Executive Officer Randall C. Fowler said, "This financing helps strengthen our balance sheet and provides us with the capital necessary to address growing demand in our markets, particularly the anticipated new markets of e-commerce and e-business. We are pleased to welcome Heights and Marshall as investors in Identix." Identix, www.Identix.com, is a leader in designing, developing, manufacturing and marketing products for the capture and/or comparison of fingerprints for security, anti-fraud, law enforcement and other applications. Through Identicator Technology Inc., Identix's IT Security division, Identix designs and develops proprietary, cost-effective, security products and solutions for personal identification and verification. Identicator Technology provides a wide range of applications to markets that include corporate enterprise security, Intranet, extranet, and Internet access and security, E-commerce, government and law enforcement agencies and physical access. The statements in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including demand for the company's products and services, development of markets for the company's products and services and other risks as identified in the company's SEC filings. Actual results, events and performance may differ materially. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events.