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Biotech / Medical : Summit Technology (BEAM) -- Ignore unavailable to you. Want to Upgrade?

To: Mo who wrote (1267)	7/21/1999 4:57:00 AM
From: chuber	Respond to of 1386

Will Summit's issuance of another 4 mil shares have a positive or negative effect on its near term stock price? The S-3 registration statement can be found here: corporate-ir.net

To: Mo who wrote (1267)	7/21/1999 4:58:00 AM
From: chuber	Read Replies (1) \| Respond to of 1386

Summit Technology Announces Filing of Public Offering Business/Technology Editors WALTHAM, Mass.--(BUSINESS WIRE)--July 20, 1999--Summit Technology, Inc. (NASDAQ:BEAM) announced today that it has filed a registration statement with the Securities and Exchange Commission to sell 4,000,000 shares of its common stock. The offering is being managed by Hambrecht & Quist LLC, U.S. Bancorp Piper Jaffray and Dain Rauscher Wessels, a division of Dain Rauscher Incorporated. Summit has also granted the underwriters an option to purchase an additional 600,000 shares to cover over-allotments. The net proceeds of the offering will be used to help fund the commercial introduction of the LADARVision system and for general corporate purposes. A preliminary prospectus relating to these securities will be available from Hambrecht & Quist LLC, One Bush Street, San Francisco, CA 94104, (415) 439-3605. A Registration Statement relating to the 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 press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. Founded in 1985, Summit Technology is a leading developer, manufacturer and marketer of ophthalmic laser systems and related products designed to correct common vision disorders such as nearsightedness, farsightedness and astigmatism. In 1995, Summit was the first excimer laser company to receive FDA approval for its excimer laser system for the correction of mild to moderate myopia in the U.S. Autonomous, a wholly owned subsidiary, is engaged in the design and development of next generation excimer laser instruments for laser refractive surgery. The Company's LADARVision system combines laser radar eye tracking with narrow beam shaping technology. In addition, through its wholly-owned subsidiary, Lens Express, Summit sells contact lenses and related products. Cautionary Statement under "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: Statements made in this report contain information about the Company's future business prospects. These statements may be considered "forward-looking." These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements. Among these risks and uncertainties are: competition from other manufacturers and vision correction technologies, delays in obtaining regulatory approvals, challenges to patents owned and licensed by the Company affecting per procedure revenues and adverse litigation results. For additional information and risks associated with the Company's business prospects, and future operating results, please refer to Summit's annual report on Form 10-K for the year ended December 31, 1998. --30--mb/bos* CONTACT: Summit Technology, Inc. Kate Sturgis Burnham, 781/672-0518 kate.burnham@sum-tech.com