News
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.
Content Filed Under:
Industry:
N/A
Application:
N/A
Robotic Vision Systems, Inc. Raises $15 Million Through Private Placement
POSTED 05/02/2002
CANTON, MASSACHUSETTS - May 2, 2002 - Robotic Vision Systems, Inc. (RVSI)
(NASDAQ: ROBV) today announced that it has completed a private placement of
common stock to accredited investors, raising $15.0 million in gross
proceeds. The proceeds of the financing will be used for general corporate
purposes, including working capital to support growth.
A total of 10.3 million shares of common stock were sold at $1.46 per
share. The private placement also includes warrants to purchase up to 2.1
million shares at $1.46 per share on or before June 30, 2002, and warrants
to purchase up to 2.6 million shares at $1.50 per share on or before May 1,
2005. The exercise of either warrant by investors requires the payment of
funds to RVSI in the full amount of the warrant exercise price. RVSI may
call the $1.50 warrants if the price of RVSI's common stock trades above
$2.35 per share for twenty consecutive days at any time prior to the
warrants' expiration.
Needham & Company, Inc. acted as placement agent for the transaction. The
securities have been purchased by accredited investors, including certain of
RVSI's current shareholders. The securities issued in the private placement
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 the securities issued in the private placement.
About RVSI
Robotic Vision Systems, Inc. (RVSI) (NASDAQ:ROBV) has the most
comprehensive line of machine vision systems available today. Headquartered
in Canton, Massachusetts, with offices worldwide, RVSI is the world leader
in vision-based semiconductor inspection and media transfer equipment. 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 approximately 100 patents in a broad range
of technologies.
Forward Looking Statement
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 most
recent registration statement, annual report on Form 10-K and 10K/A, and
other filings with the Securities and Exchange Commission.
Contact:
Neal H. Sanders (781) 302-2439
For release: May 2, 2002 at 3:00 pm
RVSI
5 Shawmut Road
Canton, MA 02021
Tel: 781-302-2439 Fax: 781-302-2440