"The closing of this financing is yet another major step in the relaunch of our company as an important player in the drug development industry," said Ludo Reynders, Ph.D., AAIPharma president and CEO. "Raising capital at this time allows us to respond quickly to growth opportunities in the areas of process innovation, service specialization, and geographic expansion. The success of this offering is a clear and tangible demonstration of support by our shareholders and Board of Directors of the strategic plans that we have set out to achieve."
"AAIPharma has used a portion of the proceeds from the rights offering to fund the acquisition of Cvitkovic & Associes Consultants S.A.," said Rachel Selisker, AAIPharma CFO. "The remaining net proceeds will provide additional liquidity for working capital, for future acquisitions and joint ventures as approved by our Board of Directors, for targeted capital expenditures, and for general corporate purposes."
About AAIPharma
AAIPharma Inc. is a global provider of product development and support services to the pharmaceutical, biotechnology and medical device industries. From a single test through a range of integrated service offerings, we create value to an industry in search of productivity and innovation. For more information on the Company, please visit AAIPharma's website at www.aaipharma.com.
Contact: AAIPharma Inc. Luke Heagle, 910-254-7066 Corporate Communication or Gibbs & Soell, Inc. Anna Munoz, 919-870-5718 Public Relations amunoz@gibbs-soell.com or Gibbs & Soell Public Relations Rowan Unsworth, +41 (0)44 205 55 65 Zurich, Switzerland runsworth@gibbs-soell.com
Source: AAIPharma Inc.
