TechniScan Medical Systems Files Registration Statement for Public Offering of Its Equity
6/4/2010 8:25:48 AM
SALT LAKE CITY, June 3 /PRNewswire-FirstCall/ -- TechniScan, Inc. (OTC Bulletin Board: TSNI) a medical device company engaged in the development and commercialization of an automated breast ultrasound imaging system, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a best efforts offering of a minimum of 16,000,000 units and a maximum of 28,500,000 units.
Each unit consists of one share of common stock and one warrant to purchase 0.4 shares of common stock. TechniScan is also registering shares of its common stock for sale by certain selling stockholders (as identified in a separate prospectus) outside of the units offering.
Jesup & Lamont Securities Corp. and Global Hunter Securities LLC will act as placement agents for the units offering but not for the shares of common stock to be sold by the selling stockholders.
A registration statement relating to these 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 a solicitation of an offer to buy, nor shall there be a sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
When available, copies of the preliminary prospectus relating to the offering may be obtained from Jesup & Lamont Securities Corp., 110 East 59th Street - 37th Floor New York, NY 10022 or by calling Mark Diamond (212) 918-0415.
About TechniScan, Inc.
Based in Salt Lake City, TechniScan, Inc. is a medical device company engaged in the development and commercialization of a non-invasive imaging tool designed to provide physicians with automated ultrasound images of the human breast. The system uses a process called Warm Bath Ultrasound (WBU) to provide physicians with automated, 3D, images of the breast. TechniScan's WBU imaging device is limited by U.S. law to investigational use unless, and until, cleared by the FDA. For more information, please visit www.techniscanmedical.com.
Forward Looking Statements
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "potential," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of TechniScan, Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov, including the Company's Annual Report on Form 10-K filed on March 22, 2010. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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