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February 12, 2002
SELL AT LEAST FOUR MILLION SHARES OF
New Jersey, February 12, 2002 – Life Sciences Research, Inc. (“LSR”)
announced today that it has received commitments to purchase at least
4,000,000 shares of its voting common stock in a private placement transaction
at a sale price of $1.50 per share. LSR expects the transaction to close
within approximately two weeks. The proceeds from the sale will be used
to reduce debt, to pay transaction costs and for general corporate purposes.
The voting common stock to be issued in the private placement is only being
offered to a limited number of investors, all of whom were identified and
received offering materials prior to the date of this release.
voting common stock to be issued will not upon issuance be registered under
the Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
Sciences Research, Inc. is one of the world’s leading Contract Research
Organizations providing product development services to the pharmaceutical,
agrochemical and biotechnology industries. LSR brings leading technology and
capability to support its clients in non-clinical safety testing of new
compounds in early stage development and assessment. LSR operates research
facilities in the United Kingdom and the United States.
announcement contains statements that may be forward-looking as defined by the
USA’s Private Litigation Reform Act of 1995. These statements are
based largely on LSR’s expectations and are subject to a number of risks and
uncertainties, certain of which are beyond LSR’s control.