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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (212)	9/27/2003 10:47:24 PM
From: richardred	Respond to of 7265

Bounce -yes-I think is still to early for buyout talk here. The company just had a private placement at 3.75. Cardiac Science Raises $8.4 Million in Private Placement of Common Stock Wednesday September 17, 4:00 pm ET IRVINE, Calif., Sept. 17 /PRNewswire-FirstCall/ -- Cardiac Science, Inc. (Nasdaq: DFIB - News), a leading manufacturer of life-saving automated public access defibrillators (AEDs), today announced that it has completed a private placement of common stock to a small group of institutional and accredited investors, raising approximately $8.4 million in gross proceeds. ADVERTISEMENT The transaction involved the sale of 2.23 million newly issued shares of Cardiac Science common stock at a price of $3.75 per share. The share price was based on a 10 percent discount to the five-day trailing average of the closing price of the stock leading up to the close of the transaction. In addition to the common stock, 223,000 five-year warrants with an exercise price of $5.00 per share were issued in connection with the transaction. Proceeds of the offering will fund the acceleration of current product development projects associated with the recently announced partnership with GE Medical Systems and provide working capital future strategic initiatives. About Cardiac Science Cardiac Science develops and markets Powerheart®-brand public-access defibrillators (AEDs) and also manufactures its products on an OEM basis for other leading medical companies. Cardiac Science's AEDs, Diascope®-brand patient monitors and Powerheart® CRM(TM), the only FDA-cleared therapeutic patient monitor that instantly and automatically treats hospitalized cardiac patients who suffer life-threatening heart rhythms are marketed in the United States by its 55-person direct sales force, numerous domestic distribution channel partners and by international distributors in more than 50 countries around the world. For more information, please visit Cardiac Science's website at www.cardiacscience.com . This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Cardiac Science cautions that these statements are subject to substantial risks and uncertainties and are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements and should not be relied upon by investors when making an investment decision. Information on these and other factors is detailed in the Company's Form 10-K for the year ending December 31, 2002, subsequent quarterly filings, and other documents filed by the Company with the Securities and Exchange Commission. For further information, please contact: Investors, Matt Clawson, matt@allencaron.com, or Media, Len Hall, len@allencaron.com, both of Allen & Caron Inc, +1-949-474-4300, for Cardiac Science, Inc.; or Roderick de Greef, Executive VP & Chief Financial Officer of Cardiac Science, Inc., +1-949-587-0357, rdegreef@cardiacscience.com.