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ORTEC INTERNATIONAL, INC
For Immediate Release
Ortec Completes Financing in Excess of $8 Million
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Select Group of Institutional Investors Participate
NEW YORK, N.Y. - (BUSINESSWIRE) - SEPTEMBER 21, 2000 - Ortec International, Inc.
(NASDAQ: ORTC) announced it has entered definitive agreements for the sale of
1,247,566 shares of its common stock to a select group of institutional
investors. Total gross proceeds to be received is $8,421,070.
Ortec intends to file a resale registration statement with the Securities and
Exchange Commission relating to these privately placed shares. The closing of
this financing will occur immediately prior to the effectiveness of the resale
registration statement.
Stephens Inc. served as placement agent for the private placement and its
affiliates participated in the financing.
This press release does not constitute an offer of any securities for sale.
Certain statements made in this news release that create potential anticipation
or expectation are "forward looking" statements within the meaning and pursuant
to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995.
An investment in Ortec involves risks and uncertainties. Ortec's actual results
may differ significantly from the results implied in this news release or
discussed in "forward looking" statements presented by management.
FOR MORE INFORMATION, PLEASE CONTACT:
Ron Lipstein, CFO
Ortec International, Inc.
212-740-6999, Extension 204
www.ortecinternational.com
