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ROUNDUP / BARBARA MURPHY

Dental / Medical Diagnostic Closes Secondary Offering

May 27, 1997|BARBARA MURPHY

Dental / Medical Diagnostic Systems announced that its secondary public offering of more than 2 million shares of common stock and an equal number of redeemable warrants to purchase common stock has closed.

Net proceeds to the company were approximately $7.5 million and will be applied to debt repayment, product development, possible acquisitions and joint-venture financing as well as for working capital and general corporate purposes.

The offering, priced at $4.50 per share of common stock and 50 cents per redeemable warrant, was underwritten by M.H. Meyerson & Co. Those who bought warrants will be allowed a year from now to purchase one share of stock at $5 for each warrant, company spokesman Ronald W. Wittman said.

Concurrent with the offering, the company's stock and purchase warrants were approved for quotation on the NASDAQ SmallCap Market under the symbols DMDS and DMDSW, respectively, and for listing on the Boston Stock Exchange under the symbols DMD and DMDW, respectively.

Dental / Medical Diagnostic Systems designs and manufactures high-technology dental equipment, including an intraoral camera known as the TeliCam and a dental office networking system known as InTELInet.

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