Cybex International Announces Completion of Public Offering of Common Stock
May 22 2006 - 4:03PM
Business Wire
Cybex International, Inc. (AMEX: CYB) announced today that it has
completed its public offering of 3.5 million shares of CYBEX common
stock at $5.50 per share. Of the total shares sold, 1.75 million
shares were issued by CYBEX and 1.75 million shares were sold by
the selling stockholders, including UM Holdings Ltd., John
Aglialoro and Joan Carter. CYBEX did not receive any proceeds from
the sale of the shares by the selling stockholders. CYBEX and the
selling stockholders have granted the underwriters of the offering
a 30-day option to purchase up to an additional 525,000 shares of
common stock on the same terms, equally split between CYBEX and the
selling stockholders. Cybex International, Inc. is a manufacturer
of premium exercise equipment for commercial and consumer use. The
CYBEX product line includes a full range of both strength training
and cardio training machines sold worldwide under the CYBEX brand.
This news release may contain forward-looking statements. There are
a number of risks and uncertainties that could cause actual results
to differ materially from those anticipated by the statements made
above. These include, but are not limited to, competitive factors,
technological and product developments, market demand, economic
conditions, the resolution of litigation involving the Company, and
the ability of the Company to comply with the terms of its credit
facilities. Further information on these and other factors which
could affect the Company's financial results can be found in the
Company's previously filed Report on Form 10-K, its Reports on Form
10-Q, its Current Reports on Form 8-K, and its proxy statement
dated April 4, 2006.
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