Bioanalytical Systems plans $5 million convertible preferreds offering

By Devika Patel

Knoxville, Tenn., Feb. 28 - Bioanalytical Systems, Inc. said it filed an S-1 registration statement with the Securities and Exchange Commission for a registered public offering of units. Ladenburg Thalmann & Co. Inc. will be the agent for the $5 million deal.

The units will consist of series A convertible preferred shares and warrants for common shares.

Proceeds will be used to buy laboratory equipment and for working capital and general corporate purposes.

Bioanalytical Systems, based in West Lafayette, Ind., provides contract drug development services and research equipment to drug research and development companies and institutions.

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