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Omron Automation manufactures intelligent automation product lines including: industrial robots, mobile robots, and other flexible automation equipment, machine vision and systems, plus software. Omron provides cost-effective robotics systems and services to high-growth markets including Packaged Goods, Life Sciences, Electronics and Semiconductor; as well as traditional industrial markets including machine tool automation and automotive components.
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Robotic Vision Systems Closes Equity Funding
POSTED 03/12/2004
NASHUA, NEW HAMPSHIRE – March 11, 2004 -- Robotic Vision Systems, Inc. (RVSI)(RVSI.PK) today announced that prior participants in an RVSI private placement had exercised their right to make a follow-on investment in the company stemming from its $2.0 million equity sale to an institutional investor in February 2004, and had also made additional investments in the company. In the aggregate, these persons have acquired 800,000 shares of common stock at $3.00 per share, resulting in gross proceeds of $2.4 million to the company. These additional funds will be used for general corporate purposes, including working capital to support growth.
The investors also acquired warrants to purchase, within six months, up to an additional 774,194 shares of common stock at a price of $3.10 per share, or an aggregate purchase price of $2.4 million. These terms are the same as those of the warrants issued to the investor in the February 2004 private placement.
These securities will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities.
About RVSI
Robotic Vision Systems, Inc. (RVSI) (RVSI.PK) has the most comprehensive line of machine vision systems available today. Headquartered in Nashua, New Hampshire, with offices worldwide, RVSI is the world leader in vision-based semiconductor inspection and Data Matrix-based unit-level traceability. Using leading-edge technology, RVSI joins vision-enabled process equipment, high- performance optics, lighting, and advanced hardware and software to assure product quality, identify and track parts, control manufacturing processes, and ultimately enhance profits for companies worldwide. Serving the semiconductor, electronics, aerospace, automotive, pharmaceutical and packaging industries, RVSI holds more than 100 patents in a broad range of technologies.
Except for the historical information herein, certain matters discussed in this release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to: the historical cyclical nature of the semiconductor industry, risks in products and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, timely development and release of new products, strategic suppliers and customers, the effect of the company's accounting policies and other risk factors detailed in the Company's annual report on Form 10-K, and other filings with the Securities and Exchange Commission.
For further information contact:
Neal H. Sanders
(781) 302-2439