Meridian Bioscience Files Shelf Registration Statement
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 state.
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 www.meridianbioscience.com.
CONTACT: Meridian Bioscience, Inc.
John A. Kraeutler, 513-271-3700
SOURCE: Meridian Bioscience, Inc.