Netsmart Technologies Announces Completion of Sale of Securities
October 14 2005 - 5:15PM
PR Newswire (US)
GREAT RIVER, N.Y., Oct. 14 /PRNewswire-FirstCall/ -- Netsmart
Technologies, Inc. (NASDAQ:NTSTNASDAQ:-NASDAQ:News), a leading
supplier of enterprise- wide software solutions for health and
human services providers announced today that, pursuant to
amendments to its previously announced contracts with certain
institutional investors, it has completed a private placement of
units consisting of an aggregate 490,000 shares of its common stock
and warrants to purchase 122,504 shares of common stock. Netsmart
has received net proceeds of approximately $4,200,000 million which
proceeds will be used for working capital, including acquisitions.
Griffin Securities, Inc. served as the placement agent. About
Netsmart Technologies, Inc. Netsmart Technologies, Inc., based in
Great River, N.Y., is an established, leading supplier of
enterprise-wide software solutions for health and human services
providers, now with over 1000 clients, including 30 systems with
state agencies. Netsmart's clients include health and human
services organizations, public health agencies, mental health and
substance abuse clinics, psychiatric hospitals, and managed care
organizations. Netsmart's products are full-featured information
systems that operate on a variety of operating systems, hardware
platforms, and mobile devices, and offer unlimited scalability.
Statement on Behalf of Netsmart Technologies, Inc. Statements in
this press release may be "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "believe," "estimate," "expect,"
"intend" and similar expressions, as they relate to the company or
its management, identify forward-looking statements. These
statements are based on current expectations, estimates and
projections about the company's business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above and those
risks discussed from time to time in Netsmart's filings with the
Securities and Exchange Commission. In addition, such statements
could be affected by risks and uncertainties related to product
demand, market and customer acceptance, competition, pricing and
development difficulties, as well as general industry and market
conditions and growth rates, and general economic conditions. Any
forward-looking statements speak only as of the date on which they
are made, and the company does not undertake any obligation to
update any forward-looking statement to reflect events or
circumstances after the date of this release. Information on
Netsmart's website does not constitute a part of this release.
DATASOURCE: Netsmart Technologies, Inc. CONTACT: Anthony Grisanti
of Netsmart Technologies Inc., 1-800-421-7503, Web site:
http://www.netsmartech.com/
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