Atc Healthcare (AMEX:AHN)
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ATC Healthcare, Inc. (AMEX:AHN),
a leader in medical staffing, today reported the sale of Common Stock
and Common Stock Warrants in a Private Placement.
On March 5, 2007, the Company raised $1,500,000 through the sale of
5,000,000 shares of the Company's Class A Common Stock and warrants to
acquire up to 2,500,000 shares of Class A Common Stock at $0.45 per
share over a five-year period to an institution and several accredited
investors. Bathgate Capital Partners LLC, an innovative investment bank
headquartered in Greenwood Village, CO, acted as finder for the
transaction.
The sale requires that the Company register with the Security and
Exchange Commission the Class A Common Stock and the underlying warrant
shares of the Class A Common warrants by June 30, 2007. The net proceeds
of the sale will be used primarily to continue to expand the Company’s
licensee base through its conversion program and for general working
capital purposes.
Management Comments
“We are very pleased that the continuing
improvement the Company has demonstrated recently, is being met with
enthusiasm by the investing community”,
remarked David Savitsky, Chief Executive Officer. “Our
goal is to continue ATC’s growth and progress
towards profitability”, added Savitsky.
Forward Looking Statements
Certain statements contained in this release that are not statements of
historical facts are “forward-looking
statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. The words —
“believe”, “expect”,
“anticipate”, “intend”,
“will”, and
similar expressions are examples of words that identify forward-looking
statements. Forward-looking statements include, without limitation,
statements regarding our future financial position, timing of future
revenue, business strategy and cost savings. These forward-looking
statements are based on our current beliefs, as well as assumptions we
have made based upon information currently available to us. These
forward-looking statements may be affected by the risks and
uncertainties in our business and are qualified in their entirety by the
cautionary statements and risk factor disclosure contained in our
filings with the Securities and Exchange Commission, including our
annual report on Form 10-K for the year ended February 28, 2006. We do
not assume, and expressly disclaim, any obligation to update these
forward-looking statements.
About ATC Healthcare, Inc.
ATC is a national leader in medical staffing personnel to hospitals,
nursing homes, clinics and other healthcare facilities with 56 locations
in 35 states. ATC provides supplemental staffing, outsourcing and human
resource solutions to hospitals, nursing homes, medical and research
facilities and industry. Drawing from a pool of over 15,000 healthcare
professionals spanning more than 50 specialties, the company supplies
both clinical and non-clinical personnel for short-term, long-term, and “traveling”
contract assignments. To learn more about the company’s
services, visit their website at www.atchealthcare.com.