QMRK: $600,000 Capital raise. If my math is right, it comes to $0.768/share.
Qualmark Corporation Strengthens Balance Sheet Through Capital Raise Friday December 21, 3:48 pm ET
DENVER, CO--(MARKET WIRE)--Dec 21, 2007 -- Qualmark Corporation (OTC BB:QMRK.OB - News), a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing), HASS (Highly Accelerated Stress Screening) and electrodynamic systems, announced today that the Company has raised $600,000 in new capital, in a private placement of 781,250 shares of common stock and warrants. The offering was placed with The Roser Partnership III, SBIC, LP and affiliates.
"We are pleased with the confidence shown by The Roser Partnership's continued investment in Qualmark," stated Andy Drenick, the Company's President and CEO. "We continue to see significant opportunities throughout the marketplace. This funding should provide us with the additional capability to further expand our sales and marketing efforts."
Commenting on the investment, Christopher Roser, Manager of the General Partner of The Roser Partnership III, SBIC LP said, "We believe Qualmark's HALT, HASS and electrodynamic systems are second to none and want to support the Company in the execution of their business plan. We welcome Andy Drenick to the Company and regard this investment into the Company as added support for Andy's plans to expand and grow Qualmark."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
Qualmark Corporation, headquartered in Denver, Colorado is the leader in designing, marketing, and manufacturing accelerated life-testing systems (HALT and HASS) providing the world's largest corporations with solutions that improve product reliability and allow them to get to market faster. The Company has installed more than 600 of its proprietary testing systems in 30 countries. The Company operates and partners with ten testing facilities worldwide.
The Company also offers electrodynamic vibration solutions through its subsidiary, Ling Electronics.
Ling Electronics, headquartered in West Haven, Connecticut is the leader in supplying electrodynamic systems, components, and service to the worldwide vibration test equipment market.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; downturns in the Company's primary markets; variability of order flow, future economic conditions; competitive products and pricing; new product development; disruptions in the Company's operations from acts of God or extended maintenance; transportation difficulties; or the delivery of product under existing contracts and other factors.
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