Full Press Release Details
SPACEHAB ANNOUNCES STOCK PURCHASE AGREEMENT
Texas, June 9, 2008 SPACEHAB Incorporated,
(NASDAQ: SPAB), today announced the Company has entered into a Securities
Purchase Agreement with Lanphier Capital Management, Inc. and Trace
Partners, L.P. for the purchase of 1,329,786 shares of the Company s common
stock for an aggregate purchase price of $625,000. The Company will use the
proceeds for general corporate purposes.
The consummation of the
transaction under the Securities Purchase Agreement is contingent upon certain customary
conditions precedent to each party s obligation to close. The 1,329,786 shares
of common stock to be issued under the Securities Purchase Agreement were sold
in reliance on the exemption from registration pursuant to Rule 506 of
Regulation D promulgated by the Commission pursuant to the Securities Act of
1933. The Company anticipates that the transaction will close by June 13,
SPACEHAB, Incorporated
SPACEHAB is a commercial and
entrepreneurial force in the space industry providing a full spectrum of products
and services to both the government and private sectors. The Company offers
space access and payload integration services, production of valuable
commercial products in space, spacecraft pre-launch processing facilities and
services, development and extension of space-based products to the consumer market,
and program and engineering support ranging from development and manufacturing
of flight hardware to large scale government project management.
This press release shall not
constitute an offer to sell or a solicitation of an offer to purchase any of
these securities, and shall not constitute an offer, solicitation or sale in
any state or jurisdiction in which such an offer, solicitation or sale would be
unlawful. The securities being offered have not been registered under the
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an applicable exemption from registration requirements.
This press release is being issued pursuant to and in accordance with Rule 135c
under the Securities Act.
The statements in this document may
contain forward-looking statements that are made pursuant to the Safe Harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that could cause
actual results to be materially different from the forward-looking statement.
These factors include, but are not limited to, continued government support and
funding for key space programs, product performance and market acceptance of
products and services, as well as other risk factors and business
considerations described in the company s Securities & Exchange
Commission filings including the annual report on Form 10-K. Any
forward-looking statements in this document should be evaluated in light of these
important risk factors. The Company assumes no obligation to update these
forward-looking statements.
Corporate Marketing and