Crdentia Announces Completion of $5M Financing
29 Ottobre 2007 - 1:00PM
PR Newswire (US)
Enhances Ability to Accelerate Growth Plans DALLAS, Oct. 29
/PRNewswire-FirstCall/ -- Crdentia Corp. (OTC:CRDT) (BULLETIN
BOARD: CRDT) , a leading healthcare staffing company, today
announced it has completed a private placement of a $5 million
equity offering. The proceeds from this offering will be used for
working capital and strategic initiatives. In keeping with
Crdentia's strategy of focusing on internal organic growth
throughout the Sun Belt and enhancing its operations with potential
highly-strategic acquisitions in the Sun Belt, this financing will
allow Crdentia to firmly enhance its position in these target
markets. Crdentia also believes this funding will allow the Company
to implement additional organic growth initiatives to further
improve operating margins and accelerate its increase in revenue.
"Completion of this new equity financing is very important to
Crdentia as it allows the Company to fully implement its strategic
growth plans with the goal of establishing Crdentia as one of the
strongest full-service suppliers of healthcare personnel in the Sun
Belt and one of the largest healthcare staffing companies in the
country," said John Kaiser, CEO. Terms of the financing include
15.7 million shares of common stock and 7.8 million five-year
warrants to purchase common stock for $0.35 per share in a cash
only exercise. A second and final closing for the offering will
occur within 10 business days from the date of this initial $5
million funding. Global Hunter Securities, LLC acted as placement
agent for the financing. The shares of common stock sold in the
private placement have not been registered under the Securities Act
of 1933, as amended, or state securities laws and may not be
offered or sold in the United States absent registration with the
Securities and Exchange Commission or an applicable exemption from
the registration requirements. Crdentia has agreed to file a
registration statement with the Commission covering the resale of
the common stock sold in the private placement. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction. About Crdentia
Corp. Crdentia Corp., one of the nation's leading providers of
healthcare staffing solutions, is focused on recruiting talented
national and international healthcare professionals to meet the
ever-increasing employment needs of over 1,500 clients. Crdentia is
one of the few companies that can provide quality temporary staff
for all healthcare industry positions including local nurses,
travel nurses, allied health and locum tenens professionals. For
more information, visit http://www.crdentia.com/. Forward Looking
Statements Statements contained in this release that are not
historical facts are forward-looking statements that involve risks
and uncertainties. Among the important factors which could cause
actual results to differ materially from those in the
forward-looking statements include, but are not limited to, those
discussed in "Risk Factors" in the Company's Forms 10-K, Forms
10-Q, and other filings with the Securities and Exchange
Commission. Such risk factors include, but are not limited to, a
limited operating history with no earnings; reliance on the
Company's management team, members of which have other business
interests; the ability to successfully implement the Company's
business plan; the ability to continue as a going concern; the
ability to fund the Company's business and acquisition strategy;
the growth of the temporary healthcare professional staffing
business; difficulty in managing operations of acquired businesses;
uncertainty in government regulation of the healthcare industry;
and the limited public market for the Company's common stock. The
actual results that the Company achieves may differ materially from
any forward-looking statements due to such risks and uncertainties.
We undertake no obligation to revise or update publicly any
forward-looking statements for any reason. Contact Crdentia Corp.
John Kaiser, CEO Phone: 972.850.0780 Fax: 972.392.2722 Jim
TerBeest, CFO Phone: 972.850.0780 Fax: 972.392.2722 DATASOURCE:
Crdentia Corp. CONTACT: John Kaiser, CEO, +1-972-850-0780, fax,
+1-972-392-2722, , or Jim TerBeest, CFO, +1-972-850-0780, fax,
+1-972-392-2722, , both of Crdentia Corp. Web site:
http://www.crdentia.com/
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