Access Integrated Technologies Closes Over-Allotment Offering
24 Marzo 2006 - 10:26AM
PR Newswire (US)
MORRISTOWN, N.J., March 24 /PRNewswire-FirstCall/ -- Access
Integrated Technologies, Inc. ("AccessIT") (AMEX:AIX) today
announced that, in connection with its previously announced
completed offering of 5,126,086 shares of Class A Common Stock, it
has completed the offering of 768,913 shares of Class A Common
Stock at a price of $10 per share to the public pursuant to the
underwriters' exercise of their over-allotment option. The gross
proceeds to the Company were $7,689,130. The net proceeds of
$7,227,782 are expected to be used to further fund the ongoing
Christie/AIX digital cinema deployment plan and for working capital
purposes. 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; Michael Glickman, The Dilenschneider Group,
+1-212-922-0900 Web site: http://www.accessitx.com/
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