Calypte Files Registration Statement
June 16 2004 - 10:59AM
PR Newswire (US)
Calypte Files Registration Statement Registering Primarily
Previously Issued Shares ALAMEDA, Calif., June 16
/PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (OTC:CYPT)
(BULLETIN BOARD: CYPT) , a developer, manufacturer and marketer of
HIV diagnostic tests, today announced that it has filed a
registration statement (the "Registration Statement") with the
Securities and Exchange Commission registering shares of common
stock purchased and shares of common stock underlying warrants
purchased in its recent private placement (the "May 2004 PIPE"), as
well as other unregistered shares of common stock, primarily owned
by Marr Technologies BV, an affiliate of Calypte and its largest
stockholder. Calypte currently has approximately 164 million shares
of common stock issued and outstanding, which includes
approximately 71 million of the shares being registered pursuant to
the Registration Statement. These shares being registered represent
approximately 43% of the Company's currently issued and outstanding
common stock. Of the 71 million shares, approximately 51 million
are owned by affiliates of Calypte, and the balance by investors in
the May 2004 PIPE other than affiliates of Calypte and other
financings, as well as vendors and consultants who have received
common stock in lieu of cash. The Registration Statement provides
for the issuance of an additional 12 million shares, which includes
approximately 9 million shares to be held for issuance upon
exercise of the warrants issued in the May 2004 PIPE. Affiliates of
Calypte hold about 70% of those warrants. About Calypte Biomedical:
Calypte Biomedical Corporation, headquartered in Northern
California, is a public healthcare company dedicated to the
development and commercialization of in vitro diagnostic tests,
primarily for the detection of antibodies to Human Immunodeficiency
Virus (HIV), and other sexually transmitted and infectious
diseases. Calypte's currently marketed laboratory-based tests
include an enzyme immunoassay (EIA) HIV-1 antibody screening test
and an HIV-1 antibody western blot supplemental test, the only two
FDA-approved HIV-1 antibody tests for use on urine samples, as well
as an FDA-approved serum HIV-1 antibody western blot supplemental
test. Calypte is actively engaged in developing new test products
for the rapid detection of HIV and other infectious diseases.
Calypte believes that there is a significant need for rapid
detection of such diseases globally to control their proliferation,
particularly in lesser-developed countries, which lack the medical
infrastructure to support laboratory-based testing. Calypte
believes that testing for HIV and other infectious diseases may
make important contributions to public health. Statements in this
press release that are not historical facts are forward-looking
statements within the meaning of the Securities Act of 1933, as
amended. Those statements include statements regarding the intent,
belief or current expectations of the Company and its management.
Such statements reflect management's current views, are based on
certain assumptions and involve risks and uncertainties. Actual
results, events, or performance may differ materially from the
above forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors,
including, but not limited to, the Company's ability to obtain
additional financing and access funds from its existing financing
arrangements that will allow it to continue its current and future
operations and whether demand for its test products in domestic and
international markets will continue to expand. The Company
undertakes no obligation to publicly update these forward-looking
statements to reflect events or circumstances that occur after the
date hereof or to reflect any change in the Company's expectations
with regard to these forward-looking statements or the occurrence
of unanticipated events. Factors that may impact the Company's
success are more fully disclosed in the Company's most recent
public filings with the U.S. Securities and Exchange Commission
("SEC"), including its annual report on Form 10-KSB for the year
ended December 31, 2003 and its subsequent filings with the SEC.
Company Contact: Investor Relations Contact: Richard Brounstein,
CFO Tim Clemensen, (510) 749-5100 Rubenstein Investor Relations
email: Phone: 212-843-9337 Email: DATASOURCE: Calypte Biomedical
Corporation CONTACT: Richard Brounstein, CFO, +1-510-749-5100, ;
Tim Clemensen, Rubenstein Investor Relations, +1-212-843-9337, ,
for Calypte Biomedical Corporation Web site:
http://www.calypte.com/
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