Martek issues 2.5 million shares of common stock in public offering

Business Wire, Sept 27, 1995

COLUMBIA, Md.--(BUSINESS WIRE)--Sept. 27, 1995--Martek Biosciences Corp. (NASDAQ: MATK) today announced that its registration statement filed with the SEC on Sept. 1, 1995, was declared effective yesterday.

The company is offering 2.5 million shares of common stock in a public offering managed by Hambrecht & Quist LLC, Bear, Stearns & Co. Inc. and Salomon Brothers Inc. Martek intends to use the proceeds from the offering to fund marketing and development of its consumer nutritional products, capital expenditures, including potential expansion of the company's Formulaid(R) manufacturing plant, clinical studies and trials, other research and development activities and for working capital and general corporate purposes.

The offering, which is being made at $15.00 per share, was increased from an original planned offering of 2.0 million shares due to investor demand.

Martek Biosciences Corp. is engaged in the research, development and manufacture of nutritional supplements, drug design tools, diagnostics and pharmaceuticals. The company's strategy is to access the vast, but largely untapped microalgal kingdom to create a broad portfolio of high-value products that uniquely satisfy unmet nutritional and health needs.

CONTACT: Martek Biosciences Corp.

Steve Dubin, Chief Financial Officer

or

Stephanie Diaz, Controller

410/740-0081