North American Scientific Effects Reverse Stock Split of Its Common Stock
01 Mayo 2008 - 2:00AM
Business Wire
North American Scientific, Inc. (NASDAQ:NASM) today announced that,
pursuant to Shareholder approval at its Annual Meeting on April 29,
2008, the Company filed an amendment to its Amended Certificate of
Incorporation that implements a 1 share for 5 share reverse stock
split of the Company�s outstanding common stock. The reverse stock
split will become effective for shareholders of record at 12:00 am
on May 1, 2008. As a result of the reverse stock split, each five
shares of common stock will be combined and reclassified into one
share of common stock and the total number of shares outstanding
will be reduced to approximately 18.5 million shares from
approximately 92.4 million shares. The common stock will trade
under its new symbol �NASM� as announced by the Company on April
30, 2008. About North American Scientific North American
Scientific, operating under the name NAS Medical, is a leader in
applying radiation therapy in the fight against cancer. Its
innovative products provide physicians with tools for the treatment
of various types of cancers. They include Prospera� brachytherapy
seeds and SurTRAK� needles and strands used primarily in the
treatment of prostate cancer. In addition, the Company has been
gaining clinical experience with its first generation ClearPath�
multi-channel catheter breast brachytherapy devices since 2007, and
intends to launch the second generation devices in 2008. They are
the only such devices approved for both high dose and continuous
release, or low dose, radiation treatments. The devices are
designed to provide flexible, precise dose conformance and an
innovative delivery system that is intended to improve the delivery
of brachytherapy for the treatment of breast cancer. Please visit
www.nasmedical.com for more information. Statements included in
this release that are not historical facts may be considered
forward-looking statements that are subject to a variety of risks
and uncertainties. There are a number of important factors that
could cause actual results to differ materially from those
expressed in any forward-looking statements made by the Company
including, but not limited to, the impact of competitive products
and pricing, technological changes, changes in relationships with
strategic partners and dependence upon strategic partners for the
performance of critical activities under collaborative agreements,
the ability of the Company to successfully directly market and sell
its products, uncertainties relating to patent protection and
regulatory approval, the stable supply of appropriate isotopes,
research and development estimates, market opportunities, risks
associated with strategic opportunities or acquisitions the Company
may pursue and the risk factors included in the Company�s filings
with the Securities and Exchange Commission. Any forward-looking
statements contained in this news release speak only as of the date
of this release, and the Company undertakes no obligation to revise
or update any forward-looking statements, whether as a result of
new information, future results or otherwise.
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