CINCINNATI--(BUSINESS WIRE)--Sept. 26, 2003--Meridian Bioscience,
Inc. (NASDAQ:VIVO) today announced that it has filed a universal shelf
registration statement with the Securities and Exchange Commission
registering an aggregate of $60 million of securities, which includes
common stock, preferred stock, debt or other types of securities. The
Company stated that it believes this universal shelf registration
statement will facilitate its ability to finance its growth strategies
through the timely sale of securities at favorable market prices.
The Company will use the proceeds from any offerings under the
registration statement for a variety of purposes including repayment
or refinancing of indebtedness, working capital, capital expenditures,
acquisitions, or other business opportunities and general corporate
purposes. The shelf registration will provide flexibility for the
possible sale of securities when market conditions are attractive.
Meridian has no immediate plans to draw upon the registration.
The registration statement also registers one million shares, or
approximately 25% of the common stock held by William J. Motto,
founder and chairman and CEO of the Company. Mr. Motto, age 62, is
contemplating the sale of such shares in connection with his estate
planning activities. The Company will not receive any proceeds from
the sale of his shares and the offering of Mr. Motto's shares will not
increase the number of shares outstanding. Mr. Motto has no immediate
plans to draw upon this registration.
Upon effectiveness of the registration statement, Meridian may
publicly offer these securities from time to time at prices and on
terms to be determined at the time of the offering. The specific terms
of a future offering, if any, will be provided in a supplemental
prospectus relating to any such offering.
A registration statement relating to these securities has been
filed with the SEC 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 the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
Meridian is a fully integrated life science company that
manufactures, markets and distributes a broad range of innovative
diagnostic test kits, purified reagents and related products and
offers biopharmaceutical enabling technologies. Utilizing a variety of
methods, these products provide accuracy, simplicity and speed in the
early diagnosis and treatment of common medical conditions, such as
gastrointestinal, viral, urinary and respiratory infections. All
Meridian products are used outside of the human body and require
little or no special equipment. The Company's products are designed to
enhance patient well-being while reducing the total outcome costs of
healthcare. Meridian has strong market positions in the areas of
gastrointestinal and upper respiratory infections, serology,
parasitology and fungal disease diagnosis. In addition, Meridian is a
supplier of rare reagents and specialty biologicals. The Company
markets its products to hospitals, reference laboratories, research
centers, veterinary testing centers and physician offices in more than
60 countries around the world. The Company's shares are traded through
Nasdaq's National Market, symbol VIVO. Meridian's website address is
CONTACT: Meridian Bioscience, Inc.
John A. Kraeutler, 513-271-3700
SOURCE: Meridian Bioscience, Inc.