Business Services Industry
Commodore Environmental Services, Inc. makes announcement
Business Wire, May 6, 1996
NEW YORK--(BUSINESS WIRE)--May 6, 1996--Commodore Environmental Services, Inc. [OTC:COES] announced today that its 90.05%-owned subsidiary, Commodore Applied Technologies, Inc. ("CATI"), has filed a registration statement with the Securities and Exchange Commission relating to a proposed underwritten initial public offering of 5,000,000 shares of CATI's Common Stock and 5,000,000 Common Stock Purchase Warrants of CATI. It is anticipated that the offering, which will only be made by means of a prospectus, will commence in July.
The net proceeds of the offering will be used to fund CATI's proposed collaborative ventures, enhance its ongoing research and development programs and for other purposes, including working capital and general corporate purposes.
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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state.
CONTACT: Commodore Environmental Services, Inc.
Melissa C. Berkowitz
(212) 308-5800
-or-
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Terry Hosmer (212) 836-9610
Robert Goldstein (212) 371-8660
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