LIVINGSTON, NJ--(Marketwired - December 05, 2013) - Milestone Scientific Inc. (OTCQB: MLSS), a leading medical research and development company that designs and patents innovative injection technology, today announced that it has closed on a $150,000 Private Placement offering of restricted shares of Common Stock at $1.50 per share to WDM Capital USA, an affiliate of Dom Maklerski WDM, S.A. This offering will result in the issuance of 100,000 shares of Common Stock.
Leonard Osser, Chief Executive Officer of Milestone Scientific, commented, "We appreciate the support we have received from WDM Capital USA as we continue to develop and launch new medical instruments. This small infusion of capital will help us in our efforts to launch new products based on our patented Dynamic Pressure Sensing® system (DPS®), intended to measure the density of body tissue and thus help a clinician know the location of a hypodermic needle during an injection."
Wojciech Gudaszewski, CEO of WDM Capital USA, LLC, commented, "We are excited to support Milestone Scientific and their unique precision drug delivery technology. We look forward to being a part of Milestone's long term continued success, while providing the Milestone Medical subsidiary ongoing access to the European capital markets."
Milestone Scientific announced on December 2, 2013 that its subsidiary, Milestone Medical, Inc. has listed and commenced trading on the Warsaw Stock Exchange. This listing follows the recent financing conducted by Dom Maklerski WDM, S.A. with $3 million raised from European investors for a post-money valuation of approximately $33 million.
WDM is Central and Eastern Europe's leading small cap investment bank. It has been listed on the Warsaw Stock Exchange since 2007. Over the past 6 years, WDM has taken over 50 companies public on the Warsaw Stock Exchange. It has raised over $150,000,000 in private equity, venture capital and public financing for its clients. WDM's investment management subsidiary, WDM Capital, manages a growing portfolio of some of the region's most promising micro caps. WDM's United States subsidiary, WDM Capital USA, provides access to CEE financing and investment opportunities for North American clients as well as North American financing and market access for CEE clients. For more information visit: www.wdmcapital.com.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a leading medical research and development company that designs and patents innovative injection technology. Milestone's computer-controlled systems make injections precise, efficient, and virtually painless. For more information please visit our website: www.milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2012. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.