AWT Signs Agreement with Medical Equipment Distribution Company
November 27 2007 - 7:32AM
PR Newswire (US)
Acquisition target agrees to acquisition terms with AWT SOMERSET,
N.J., Nov. 27 /PRNewswire-FirstCall/ -- AWT, Inc. (Pink Sheets:
AWTM), announced that it has signed agreements that will facilitate
its acquisition of a local medical supply and medical equipment
distribution company. The Standstill Agreement allows for AWT and
its acquisition partner to continue with business as usual and
complete the necessary documents for the closing of the transaction
and the financing earlier announced. "A Standstill Agreement, as
both of our companies have agreed, is mutually binding in the fact
that we do not go around each other to clients and we do not shop
the terms of this deal to rivals. It gives both companies the
ability to complete and close the transaction," commented
Christopher J. Neill, AWT's CEO. Furthering his comment, "Both
companies are interested in a smooth transition to a larger
organization and resourceful expansion." The target company is a
New Jersey-based medical equipment distributor and general medical
supply company which provides capital equipment to acute care and
long term care facilities. The purchase price to be paid will be a
combination of cash and restricted shares of AWT common stock
subject to registration rights. The number of AWT shares has been
determined, and additional contracts for Earnout have been
discussed based on AWT's share price on the one year anniversary of
the closing date. Closing of the acquisition is anticipated to
occur by year end to early January. Under the agreements, both
companies are unable speak directly regarding the specific terms
prior to the closing of the acquisition. ABOUT AWT, INC. AWT Inc,
headquartered in Somerset, New Jersey, with locations in the USA
and Saudi Arabia, is a rapidly expanding durable medical equipment
and supply company. It distributes state-of-the-art medical
equipment to the healthcare industry, as well as general supplies.
AWT Inc is committed to a more traditional personal service
commitment to healthcare and cost efficiencies for clients,
providing superior service and products to the healthcare world at
the lowest possible price and with delivery times superior to any
in the industry. It is equally committed to always exceeding
customer expectations and to increasing shareholder value.
Disclaimer: CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
The business consulting and strategic consulting services described
in this press release have not been completed for AWTM at the time
of writing. The agreement also allows for WSE to assist in
financing to be raised on a best efforts basis. It is the intention
of AWTM to work with WSE on an open and direct basis so as to
receive the best value for the consulting offered and to complete
any financings contemplated on a best efforts basis and at its
earliest possible opportunity. If the consulting services are not
completed or any potential financing is not completed, no
assurances as to the financial viability of the company can be
given. No guarantee can be made by the company as to if the
financing mentioned herein will actually take place and close. If
the financing does not close where AWTM has not received monies for
future growth, actual results could differ materially from those
projected in the forward looking statements. This press release
contains "forward-looking statements," which are statements related
to future, not past, events. In this context, the forward-looking
statements often include statements regarding our goals, plans,
projections and guidance regarding our financial position, results
of operations, market position, pending and potential future
acquisitions and business strategy, and often contain words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks"
or "will." Any such forward-looking statements are not assurances
of future performance and involve risks and uncertainties that may
cause results to differ materially from those set forth in the
statements. These risks and uncertainties include, among other
things, (a) general economic and business conditions, (b) the level
of strategic partner incentives, (c) the future regulatory
environment, (d) our cost of financing, (e) our ability to complete
acquisitions and dispositions and the risks associated therewith,
and (f) our ability to retain key personnel. These factors, as well
as additional factors, could affect our forward-looking statements.
We urge you to carefully consider this information. We undertake no
duty to update our forward-looking statements, including our
earnings outlook. CONTACT: Investor Relations Contact: AWT, Inc.
Smallcapvoice.com Christopher J. Neill, Stuart Smith CEO Managing
Director (732) 246-2330 Phone: (512) 267-2430 DATASOURCE: AWT, Inc.
CONTACT: Investor Relations, Stuart Smith, Managing Director of
Smallcapvoice.com, +1-512-267-2430, for AWT, Inc.; or Christopher
J. Neill, CEO of AWT, Inc., +1-732-246-2330
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