MINNEAPOLIS, Sept. 11 /PRNewswire-FirstCall/ -- Vital Images, Inc. , a leading provider of enterprise-wide advanced visualization and analysis solutions, today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission which, if and when declared effective, will permit the company to offer and sell up to $150 million of equity or debt securities from time to time in one or more transactions.
"This shelf registration will provide us with flexibility to obtain financing on a prompt basis as market conditions allow to support our growth by pursuing opportunities that may present themselves in the future, such as new technologies or applications for advanced visualization, or geographic expansion of our distribution channels," said Jay D. Miller, Vital Images' president and chief executive officer.
The registration statement covers potential offerings of common stock, preferred stock, debt securities (including convertible debt) and warrants, either individually or as units. The terms of any offering under the registration statement will be established at the time of the offering and will be described in a prospectus supplement filed at that time. Unless otherwise indicated in a prospectus supplement, the proceeds from the sale of any securities will be used for general corporate purposes including, among other things, expanding sales and marketing and customer service and training efforts internationally and investing in the company's product development resources. Vital Images may also use the net proceeds from any offering to acquire or invest in businesses, products and technologies that are complementary to its current products, can enhance its market coverage or technical capabilities, or offer growth opportunities.
Although the registration statement, if and when effective, will permit the company to offer and sell up to $150 million in securities, doing so remains at the discretion of Vital Images' board of directors. The company is not required to offer any securities in the future.
A registration statement relating to the securities described in this press release has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is not an offer to sell securities or a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state of jurisdiction.
About Vital Images
Vital Images, Inc., headquartered in Minneapolis, is a leading provider of enterprise-wide advanced visualization and analysis software solutions. The company's technology gives radiologists, cardiologists, oncologists and other medical specialists time-saving productivity and communications tools that can be accessed throughout the enterprise and via the Web for easy use in the day- to-day practice of medicine. For more information, visit http://www.vitalimages.com/ .
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties which could cause results to differ materially from those projected, including but not limited to our ability to obtain financing with advantageous terms and on a prompt basis, our dependence on market growth, the timely availability and acceptance of new products, the impact of competitive products and pricing, our dependence on major customers, fluctuations in our quarterly results, the approval of our products for reimbursement by third party payors, including government institutions and insurance companies, and the amount of that reimbursement, and other risks detailed from time to time in Vital Images' SEC reports, including its most recent report on Form 10-K for the year ended December 31, 2005 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006.
