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Biotech / Medical : Life Sciences Research, Inc (LSRI)

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To: leigh aulper who started this subject2/12/2002 5:31:52 PM
From: trenzich   of 22
 
LSR To Sell At Least Four Million Shares of Voting Common Stock in Private Placement Transaction
BUSINESS WIRE - February 12, 2002 17:19
PRINCETON, N.J., Feb 12, 2002 (BUSINESS WIRE) -- Life Sciences Research, Inc. ("LSR") announced today that it has received commitments to purchase at least 4,000,000 shares of its voting common stock in a private placement transaction at a sale price of $1.50 per share. LSR expects the transaction to close within approximately two weeks. The proceeds from the sale will be used to reduce debt, to pay transaction costs and for general corporate purposes. The voting common stock to be issued in the private placement is only being offered to a limited number of investors, all of whom were identified and received offering materials prior to the date of this release.

The voting common stock to be issued will not upon issuance be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Life Sciences Research, Inc. is one of the world's leading Contract Research Organizations providing product development services to the pharmaceutical, agrochemical and biotechnology industries. LSR brings leading technology and capability to support its clients in non-clinical safety testing of new compounds in early stage development and assessment. LSR operates research facilities in the United Kingdom and the United States.
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