[Ed – Whoops, a little late on this one.]
VeriChip Corporation, intends to file a registration statement to sell shares of common stock in an initial public offering on a firm commitment basis through a syndicate of underwriters. The Company’s target for closing the offering is in the second quarter of 2006.
The primary purpose of the offering is to fuel the growth of the VeriMed patient identification system by continuing to expand the VeriMed infrastructure at hospitals and other healthcare facilities and by increased participation of physicians. The VeriMed patient identification system helps to rapidly identify patients in an emergency setting. Offering proceeds will also be used for enhancing the growing sales of the infant protection systems, wander prevention systems and asset tracking systems both in the United States and internationally.