LAKE MARY, Fla., Dec. 21, 2012 /PRNewswire/ -- FARO Technologies,
Inc. (NASDAQ: FARO) today announced that it has filed a shelf
registration statement on Form S-3 with the Securities and Exchange
Commission (SEC). The Company does not have immediate plans
to sell securities under the shelf registration statement.
Under the shelf registration statement, when declared effective by
the SEC, FARO Technologies, Inc., may offer and sell from time to
time up to $250 million of the
Company's ordinary shares, warrants, or units or any combination
thereof. The specifics of any future offering, along with the
prices, terms and the use of proceeds will be described in a
prospectus supplement filed with the SEC prior to the completion of
the offering.
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The shelf registration statement has been filed with the SEC but
has not yet become effective. The securities registered may
not be sold nor may offers to buy these securities be accepted
prior to the time the registration becomes effective. This
press release shall not constitute a solicitation of an offer to
buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities law of any such jurisdiction. Any offering of
these securities will be made solely by means of the prospects
included in the registration statement and any prospectus
supplement that may be issued with respect to such offering.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties, such as statements
about demand for its products, and its future operating results and
financial condition. Statements that are not historical facts or
that describe the Company's plans, objectives, projections,
expectations, assumptions, strategies, or goals are forward-looking
statements. In addition, words such as "intend," "believe," "will,"
"expect" and similar expressions or discussions of FARO's plans or
other intentions identify forward-looking statements.
Forward-looking statements are not guarantees of future performance
and are subject to various known and unknown risks, uncertainties,
and other factors that may cause actual results, performances, or
achievements to differ materially from future results,
performances, or achievements expressed or implied by such
forward-looking statements. Consequently, undue reliance should not
be placed on these forward-looking statements.
Factors that could cause actual results to differ materially
from what is expressed or forecasted in such forward-looking
statements include, but are not limited to:
- development by others of new or improved products, processes
or technologies that make the Company's products obsolete or less
competitive;
- production delays caused by shortages of raw materials
incorporated in the Company's products;
- the cyclical nature of the industries of the Company's
customers and material adverse changes in customers' access
to liquidity and capital;
- declines or other adverse changes, or lack of improvement,
in industries that the Company serves or the domestic and
international economies in the regions of the world where the
Company operates and other general economic, business, and
financing conditions;
- risks associated with international operations, such as
fluctuations in currency exchange rates, difficulties in staffing
and managing foreign operations, political and economic
instability, compliance with import and export regulations, and the
burdens and potential exposure of complying with a wide variety of
U.S. and foreign laws and labor practices;
- other risks detailed in Part I, Item 1A. Risk Factors
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2011.
Forward-looking statements in this release represent the
Company's judgment as of the date of this release. The Company
undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
About FARO
With over 30,000 installations and 15,000 customers globally, FARO
Technologies, Inc. designs, develops, and markets portable,
computerized measurement and imaging devices and software used to
create digital models -- or to perform evaluations against an
existing model -- for anything requiring highly detailed 3-D
measurements, including part and assembly inspection, factory
planning and asset documentation, as well as specialized
applications ranging from surveying, recreating accident sites and
crime scenes to digitally preserving historical sites.
FARO's technology increases productivity by dramatically
reducing the amount of on-site measuring time, and the various
industry-specific software packages enable users to process and
present their results quickly and more effectively.
Principal products include the world's best-selling portable
measurement arm -- the FaroArm; the world's best-selling laser
tracker -- the FARO Laser Tracker Vantage; the FARO Laser ScanArm;
FARO Focus 3D Laser Scanner; the FARO Gage, Gage-PLUS and
PowerGAGE; and the CAM2 Q family of advanced CAD-based measurement
and reporting software. FARO Technologies is ISO-9001 certified and
ISO-17025 laboratory registered.
SOURCE FARO Technologies, Inc.