BOHEMIA, N.Y.--(BUSINESS WIRE)--July 12, 2005--Advanced BioPhotonics Inc. (OTCBB Symbol: ABPH) announced today that the Securities and Exchange Commission has declared effective the registration statement with respect to its previously announced stockholder subscription rights offering. On July 11, 2005, the Company mailed the prospectus and related materials to its stockholders of record as of the close of business on July 1, 2005. Advanced BioPhotonics expects to generate gross proceeds of $3,500,000 from the issuance of 7,000,000 shares of a series B convertible preferred stock in the subscription rights offering. The subscription period for the subscription rights offering will continue through August 10, 2005.
Advanced BioPhotonics will distribute to its stockholders of record as of July 1, 2005, one subscription right for each 4.33 shares of common stock owned by that record stockholder as of the close of business on that record date. Each right includes a basic subscription privilege and an over-subscription privilege. The subscription rights are transferable.
