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DiaSys Reports Stock Purchase Agreement
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Business New Haven
4/15/2002
By:
BNH
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WATERBURY - DiaSys Corp. (AMEX: DYX) announced that a group of purchasers comprising mainly its officers and directors has entered into a stock-purchase agreement with BH Capital and Excalibur Partners, holders of the company's convertible preferred shares, to retire all of the convertible preferred and underlying common shares for $1.5 million.
Under the agreement, BH and Excalibur also waived their right to receive additional warrants to purchase shares of DiaSys common stock, and have forfeited any existing such warrants. The parties expected to complete all such transactions on or before April 8.
DiaSys designs, develops, manufactures and distributes proprietary medical laboratory equipment, consumables and test kits to health-care laboratories. It operates in Europe through its wholly owned subsidiary based in Wokingham, England; and, in Pacific Asia through its strategic business partner located in Guangzhou, China.
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