Sentigen Holding Corp.
580 Marshal Street
Phillipsburg, NJ 08865
Contact: Robert A. Reinhart
Chief Financial Officer and
Principal Accounting Officer
(908) 387-1673
SENTIGEN HOLDING CORP. RAISES OVER $5,000,000 IN PRIVATE OFFERING
Phillipsburg, New Jersey, November 21, 2000: Sentigen Holding Corp. (OTCBB:
SGHL) ("Company") announced today that it has consummated the sale of 863,834
shares of its common stock at a price of $6.00 per share, for aggregate gross
proceeds of $5,183,000. The shares were sold in a private offering to 24
purchasers.
Sentigen Holding Corp. intends to use the net proceeds of the offering for
marketing, advertising, research and development, working capital and general
purposes for the businesses operated or to be operated by its subsidiaries.
The common stock issued in the offering will not and have not been
registered under the Securities Act of 1933 and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements.
Sentigen Holding Corp. (formerly Prime Cellular, Inc.) is a holding company
conducting business through its wholly-owned operating subsidiaries, Cell &
Molecular Technologies, Inc. and Sentigen Corp. CMT has two divisions: (1) its
Molecular Cell Science Division which provides contract research and development
services to the biotechnology and pharmaceutical industries, and (2) its
Specialty Media Division which manufactures and distributes cell culture media
and reagents and other research products, for the biotechnology and
pharmaceutical industries. Sentigen Corp. is involved in scientific research to
develop environmentally sound approaches to prevent insect crop damage and the
spread of human diseases by impacting insect behavior.
Except for any historical information contained herein, the matters
discussed in this press release contain forward-looking statements that involve
risks and uncertainties which are described in the Company's SEC reports,
including the Company's Annual Report on Form 10-K for the year ended December
31, 1998 and Quarterly Reports on Form 10-Q for the quarters ended March 31,
2000, June 30, 2000 and September 30, 2000.
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