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Staodyn

This article was originally published in The Gray Sheet

Executive Summary

Withdraws a proposed public offering registered on Feb. 9 with the Securities and Exchange Commission ("The Gray Sheet" Feb. 15, p. 13). Lynda S. Dreiling, executive vice president, says in a March 16 announcement that the firm's decision is "based on current market conditions for the securities of health care companies, and the recent decline in the market price of Staodyn common stock." The withdrawal comes five days after Staodyn announced a restructuring of the offering and a plan to extend the term of warrants due to expire in June and to reduce their exercise price. As a result of the canceled offering, Staodyn says it will not reduce the exercise price of the warrants and may not extend their term.
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