Access Integrated Technologies Closes 5,126,086 Class A Common Share Offering
17 Marzo 2006 - 12:00PM
PR Newswire (US)
MORRISTOWN, N.J., March 17 /PRNewswire-FirstCall/ -- Access
Integrated Technologies, Inc. ("AccessIT") (AMEX:AIX) today
announced that it has completed its previously announced offering
of 5,126,086 shares of Class A Common Stock at a price of $10 per
share to the public. The gross proceeds to the Company were
$51,260,860. The net proceeds of $48,035,208 are expected to be
used to further fund the ongoing Christie/AIX digital cinema
deployment plan and for working capital purposes. AccessIT has
granted the underwriters a 30-day option to purchase up to 768,913
additional shares of its Class A Common Stock to cover
over-allotments. Roth Capital Partners, LLC and Craig-Hallum
Capital Group LLC acted as the underwriters on the underwritten
offering. A shelf registration statement relating to these
securities was declared effective by the Securities and Exchange
Commission on January 13, 2006. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. Copies of
the final prospectus supplement and the accompanying prospectus
relating to the offering may be obtained from Suzanne Moore, (973)
290-0080, Access Integrated Technologies, Inc. 55 Madison Avenue,
Suite 300, Morristown, NJ 07960. Safe Harbor Statement Investors
and readers are cautioned that certain statements contained in this
document, as well as some statements in periodic press releases and
some oral statements of AccessIT officials during presentations
about AccessIT, are "forward-looking' statements within the meaning
of the Private Securities Litigation Reform Act of 1995 (the
"Act"). Forward-looking statements include statements that are
predictive in nature, which depend upon or refer to future events
or conditions, which include words such as "expects",
"anticipates", "intends", "plans", "could", "might", "believes',
"seeks", "estimates" or similar expressions. In addition, any
statements concerning future financial performance (including
future revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future actions, which may be
provided by AccessIT's management, are also forward-looking
statements as defined by the Act. Forward-looking statements are
based on current expectations and projections about future events
and are subject to various risks, uncertainties and assumptions
about AccessIT, its technology, economic and market factors and the
industries in which AccessIT does business, among other things.
These statements are not guarantees of future performance and
AccessIT has no specific intention to update these statements.
Contact: Suzanne Tregenza Moore Michael Glickman AccessIT The
Dilenschneider Group 55 Madison Avenue 212.922.0900 Suite 300
Morristown, NJ 07960 973.290.0080 http://www.accessitx.com/
DATASOURCE: Access Integrated Technologies, Inc. CONTACT: Suzanne
Tregenza Moore AccessIT, +1-973-290-0080; or Michael Glickman of
The Dilenschneider Group, +1-212-922-0900 Web site:
http://www.accessitx.com/
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