Positron offering raises $3 million

March 13, 1996

PET developer Positron of Houston last week completed a privatestock offering that solves a cash-flow problem that has doggedthe firm since late last year (SCAN 2/28/96). Positron issuedconvertible preferred stock and purchase warrants to raise

PET developer Positron of Houston last week completed a private

stock offering that solves a cash-flow problem that has dogged

the firm since late last year (SCAN 2/28/96). Positron issued

convertible preferred stock and purchase warrants to raise net

proceeds of $3 million, which will be used for working capital,

to make payments on PET components, and to increase its tangible

assets. The offering enabled Positron to meet NASDAQ's tangible

net asset requirements and maintain the company's listing on the

exchange.