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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services -- Ignore unavailable to you. Want to Upgrade?

To: Freddie Forte who wrote (25886)	12/3/1998 11:05:00 AM
From: JOEY	Read Replies (1) \| Respond to of 27968

Hey guys remember this company: Atrix International Announces Agreement in Principle for Sale of Company Thursday, December 3 10:37 AM ET Preliminary Terms Reached with Company's Chief Executive Officer Current quotes (delayed 20 mins.) ATXI 1 0 (0.00%) MINNEAPOLIS (BUSINESS WIRE) - Atrix International, Inc. of Burnsville, MN announced today that the Company has reached an agreement in principle with Steven D. Riedel, the Company's President and Chief Executive Officer, by which an entity to be formed by Mr. Riedel would acquire all of the outstanding shares of Atrix International at $2.00 per share. W. William Bednarczyk, Chairman of the Board, stated, "We are currently negotiating a definitive agreement with Mr. Riedel, which we expect to be executed within the next few weeks." Mr. Bednarczyk went on to state that the Company's largest shareholder, Jerry Mathwig, a holder of approximately 24.5 percent of the Company's outstanding shares, has agreed to vote in favor of the transaction and has granted Mr. Riedel a proxy to vote in favor of the transaction, provided that the bid price for Atrix shares does not exceed $2.10 per share for three consecutive trading days. If and when the merger agreement is approved, the Company will complete a proxy filing and call a special shareholders meeting to ratify the proposed merger agreement. The Company expects that the transaction will close in the first quarter of calendar 1999. Atrix is a leading edge manufacturer of remote metering and production monitoring hardware for the copy control and plastic injection molding industries. The Company develops and writes proprietary monitoring software for these same industries. In addition, Atrix manufactures industrial vacuums, vacuum filters and printed circuit board transport cases for the office machine/computer industries. The Company also offers numerous innovative programs for supplying tools and instrumentation for field service organizations throughout the world. The common stock of Atrix is traded on NASDAQ under the symbol ATXI. Atrix International E-Mail: SRiedel@Atrix.com Internet: www.Atrix.com Contact: 612-894-6154 Steven D. Riedel President and CEO, Atrix International