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Martek Biosciences (MATK) Announces Proposed Offering Of 1,500,000 Shares Of Common Stock



10/19/2005 5:12:20 PM

COLUMBIA, Md., Jan. 13 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation , today announced that it plans to conduct an underwritten offering of 1,500,000 shares of its common stock under an existing shelf registration statement. In connection with the offering, Martek expects to grant the underwriters an option to purchase up to 225,000 additional shares to cover over-allotments.

Citigroup will act as sole bookrunning manager of the offering. Adams Harkness, Inc. will act as co-lead manager and Needham & Company, Inc., First Albany Capital and D.A. Davidson & Co. will act as co-managers.

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 these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A preliminary prospectus supplement relating to these securities has been filed with the Securities and Exchange Commission. This offering of the shares of common stock may be made only by means of the preliminary prospectus supplement and related prospectus, copies of which will be available from Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013.

Martek Biosciences Corporation develops, manufactures and sells products from microalgae. The Company's products include: (1) specialty, nutritional oils for infant formula that aid in the development of the eyes and central nervous system in newborns; (2) nutritional supplements and food ingredients that may play a beneficial role in promoting mental and cardiovascular health throughout life; and (3) new, powerful fluorescent markers for diagnostics, rapid miniaturized screening, and gene and protein detection.

CONTACT: Pete Buzy, Chief Financial Officer, of Martek Biosciences Corporation, +1-410-740-0081.

Martek Biosciences Corporation

CONTACT: Pete Buzy, Chief Financial Officer, of Martek BiosciencesCorporation, +1-410-740-0081


Read at BioSpace.com


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