The Quantum Group, Inc. Completes $13.2 Million Public Offering and Initiates Trading on the American Stock Exchange Under Symbo
14 December 2007 - 6:47AM
PR Newswire (US)
WELLINGTON, Fla., Dec. 13 /PRNewswire-FirstCall/ -- The Quantum
Group, Inc. (AMEX:QGPAMEX:QGP.U) (http://www.quantummd.com/) today
announced that it has completed its registered public offering,
raising $13.2 million in gross proceeds. The Company further
announced that it has initiated trading on the American Stock
Exchange (AMEX) of the Units registered in the Offering under the
symbol "QGP.U." In addition, Quantum common shares, formerly traded
on the OTC Bulletin Board under the symbol "QNTM," are now also
trading on the AMEX under the symbol "QGP." Paulson Investment
Company, a wholly owned subsidiary of Paulson Capital Corp.
(NASDAQ:PLCC), acted as the lead manager on the offering, and
Newbridge Securities Corporation and Neidiger Tucker Bruner, Inc.
acted as co-managers. The offering consisted of 1.2 million Units
with an initial Unit offering price of $11.00 per Unit. Each Unit
consists of three shares of common stock, two seven year
non-callable Class A Warrants and two seven year non-callable Class
B Warrants. Each Class A Warrant entitles its holder to purchase
one share of common stock at an exercise price of $7.00 per share.
Each Class B Warrant entitles its holder to purchase one share of
common stock at an exercise price of $11.00 per share. Neither the
Class A Warrant nor the Class B Warrant is subject to redemption.
The Units, trading under the symbol "QGP.U," will be broken up in
their component parts and will begin trading separately on or about
Monday, January 14, 2008, under the symbols "QGP," "QGP.WS.A" and
"QGP.WS.B," respectively. Once separate trading in the common stock
and Warrants begins, trading in the Units will cease and the Units
will be delisted. Quantum intends to use the net proceeds from this
offering to further develop its medical service provider networks
and management support services, repay debt, expand its technology
platform, pay accrued compensation to its executive management and
for general working capital purposes. A registration statement
related to these securities was filed and declared effective by the
Securities and Exchange Commission. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
nor shall there by any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state. Offers may only be made by means of a written prospectus. A
copy of the final prospectus relating to the offering may be
obtained from: Paulson Investment Company, Inc., 811 SW Naito
Parkway, Suite 200, Portland, Oregon 97204. The Quantum Group,
Inc., a Wellington, Florida-based company, through its subsidiary
companies, including Renaissance Health System of Florida, Inc.
(RHS) (http://www.rhsfl.com/), offers administrative and support
business solutions for health maintenance organizations that market
Medicare Advantage managed healthcare plans and to healthcare
providers in the state of Florida. Through its growing number of
nearly 1,600 contracted physicians and managed care relationships
in the state of Florida, the Company believes it is positioned to
bring increased efficiencies to the Florida healthcare industry.
Certain statements contained in this news release, which are not
based on historical facts, are forward-looking statements as the
term is defined in the Private Securities Litigation Reform Act of
1995, and are subject to substantial uncertainties and risks in
part detailed in the respective company's Securities and Exchange
Commission 10-KSB, 10-QSB, S-8 and 8-K filings (and amendments
thereto) that may cause actual results to materially differ from
projections. Forward-looking statements can be identified by the
use of words such as "expects," "plans," "will," "may,"
"anticipates," "believes," "should," "intends," "estimates" and
other words of similar meaning. These statements are subject to
risks and uncertainties that cannot be predicted or quantified and,
consequently, actual results may differ materially from those
expressed or implied by these forward-looking statements. Such risk
factors include, without limitation, the ability of the Company to
properly execute its business model, to raise substantial and
immediate additional capital to implement its business model, to
attract and retain executive, management and operational personnel,
to negotiate favorable current debt and future capital raises, to
negotiate favorable agreements with a diversified provider base and
to continue to supply the services needed by its HMO clients as
well physician clients. The Company does not undertake any
obligation to publicly update any forward-looking statements. As a
result, investors should not place undue reliance on these
forward-looking statements. DATASOURCE: The Quantum Group, Inc.
CONTACT: Daniel Conway, Chief Strategist of Elite Financial
Communications Group, LLC, +1-407-585-1080, , for The Quantum
Group, Inc.; or Danielle Amodio, Vice President, Corporate
Communications of The Quantum Group, Inc., +1-561-798-9800 Web
site: http://www.quantummd.com/ http://www.quantummind.com/
http://www.rhsfl.com/
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