Ballistic Recovery Systems Completes Private Placement Offering
January 15 2007 - 4:40PM
Business Wire
Ballistic Recovery Systems, Inc. (OTCBB:BRSI) announced that it
completed a third and final closing its private placement offering
whereby it sold an aggregate of 2,034,840 shares of its common
stock and warrants to purchase an additional 508,710 shares of
common stock. BRS raised approximately $2,767,000 net of
commissions paid. Prior closings of the offering were completed on
October 25, 2006 and November 25, 2006. BRS is a South St. Paul,
Minnesota, based company that designs, manufactures and distributes
whole-plane emergency parachute systems for use on general aviation
and recreational aircraft. Since 1981, BRS has delivered more than
25,000 parachute systems to aircraft owners around the world
including over 3,000 systems on certified aircraft like the Cirrus
Design aircraft manufactured in Duluth, Minnesota. To date, BRS
parachute recovery systems have been credited with saving the lives
of 199 pilots and passengers. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
and securities of BRS. The securities sold in these issuances were
not registered under the Securities Act and therefore may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements. For more
information about the Company, review the Company's filings with
the Securities and Exchange Commission, particularly the Company's
annual report on Form 10-KSB. For more information on BRS contact:
Larry E. Williams; BRS, Inc: Fleming Field, 300 Airport Road; South
St. Paul MN 55075;USA(LarryWilliams@BRSparachutes.com) TEL
651.457.7491 ; FAX 651.457.8651
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