Ballistic Recovery Systems Closes on Private Offering
01 November 2006 - 8:53AM
Business Wire
Ballistic Recovery Systems, Inc. (OTCBB:BRSI) announced that it has
closed on $1,327,000 gross proceeds of a private placement as part
of a $3 million offering of its equity securities through a private
placement agent. Pursuant to such offering, BRS issued 975,736
shares of common stock and five year warrants to purchase 243,934
shares of common stock at $2.00 per share. This press release does
not constitute an offer to sell or a solicitation of an offer to
buy and securities of BRS. The securities sold in these issuances
were not registered under the Securities Act and therefore may not
be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. BRS is a South
St. Paul, Minnesota, based company that designs, manufactures and
distributes whole-plane emergency parachute systems for use on
general aviation and recreational aircraft. Since 1981, BRS has
delivered more than 23,000 parachute systems to aircraft owners
around the world including over 2,900 systems on certified aircraft
like the Cirrus Design aircraft manufactured in Duluth, Minnesota.
To date, BRS parachute recovery systems have been credited with
saving the lives of 198 pilots and passengers. The forward looking
matters discussed here should be considered subject to risks and
uncertainties, including market fluctuations, pricing, procurement,
manufacturing efficiencies, and other risks that could cause the
actual results to differ materially from those projected. For more
information, review the company�s filings with the Securities and
Exchange Commission, particularly the Company�s annual report on
Form 10-KSB. For more information on BRS contact: Larry E.
Williams; BRS, Inc: Fleming Field, 300 Airport Road; South St. Paul
MN 55075; USA (LarryWilliams@BRSparachutes.com) TEL 651.457.7491;
FAX 651.457.8651 Ballistic Recovery Systems, Inc. (OTCBB:BRSI)
announced that it has closed on $1,327,000 gross proceeds of a
private placement as part of a $3 million offering of its equity
securities through a private placement agent. Pursuant to such
offering, BRS issued 975,736 shares of common stock and five year
warrants to purchase 243,934 shares of common stock at $2.00 per
share. This press release does not constitute an offer to sell or a
solicitation of an offer to buy and securities of BRS. The
securities sold in these issuances were not registered under the
Securities Act and therefore may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements. BRS is a South St. Paul, Minnesota,
based company that designs, manufactures and distributes
whole-plane emergency parachute systems for use on general aviation
and recreational aircraft. Since 1981, BRS has delivered more than
23,000 parachute systems to aircraft owners around the world
including over 2,900 systems on certified aircraft like the Cirrus
Design aircraft manufactured in Duluth, Minnesota. To date, BRS
parachute recovery systems have been credited with saving the lives
of 198 pilots and passengers. The forward looking matters discussed
here should be considered subject to risks and uncertainties,
including market fluctuations, pricing, procurement, manufacturing
efficiencies, and other risks that could cause the actual results
to differ materially from those projected. For more information,
review the company's filings with the Securities and Exchange
Commission, particularly the Company's annual report on Form
10-KSB. For more information on BRS contact: Larry E. Williams;
BRS, Inc: Fleming Field, 300 Airport Road; South St. Paul MN 55075;
USA (LarryWilliams@BRSparachutes.com) TEL 651.457.7491; FAX
651.457.8651
Ballistic Recovery Systems (CE) (USOTC:BRSI)
Historical Stock Chart
From Jul 2024 to Jul 2024
Ballistic Recovery Systems (CE) (USOTC:BRSI)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Ballistic Recovery Systems Inc (CE) (OTCMarkets): 0 recent articles
More Ballistic Recovery Systems, Inc. News Articles