StockerYale Completes $7.7 Million Private Placement
February 1, 2002
Salem, NH -- StockerYale, Inc. (Nasdaq: STKR), a leading independent provider of phase masks, specialty optical fiber, advanced optical technologies and specialized illumination products, today announced that it has completed a $7.7 million private placement of shares of common stock to a group of institutional investors led by Wellington Management and Van Wagoner Capital Management. In connection with the offering, the company issued 988,600 shares of common stock. The company stated that it expects to use the net proceeds for working capital and general corporate purposes.
About StockerYale
StockerYale, Inc., headquartered in Salem, NH, is an independent designer and manufacturer of phase masks, specialty optical fiber, and related components used in the building of optical networks as well as structured light lasers, specialized fiber optic, fluorescent, and LED illumination products for use in the machine vision, industrial inspection, medical and military markets.
StockerYale serves a widely varied, international customer base from its corporate offices in Salem and reinvests a significant percentage of its revenues in R&D to meet the future requirements of its customers. StockerYale has offices and subsidiaries in Canada, Europe, and the Pacific Rim.
For more information about StockerYale and their innovative products, contact StockerYale, Inc., 32 Hampshire Rd., Salem, NH, 03079. Call 800-843-8011; Fax 603-893-5604; or e-mail .
Notice to Investors:
This press release contains forward-looking statements that do not give full weight to all the potential risks, but relate to StockerYale's plans, objectives, and expectations. Thus, actual results may differ materially. StockerYale undertakes no duty to update any of these forward-looking statements.
Contact for Press and Analysts:
Fred Pilon, Dir. Investor Relations
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, the Company's future operating results and sales trends. Reliance should not be placed on forward looking statements because they involve known and unknown risks, uncertainties and other factors which are in some cases, beyond the control of Stocker & Yale, which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward looking statements.
StockerYale, Inc.
603-893-8778