RODI Power Systems, Inc. Announces Initial Public Offering
28 October 1997
RODI Power Systems, Inc. Announces Initial Public OfferingKENT, Wash., Oct. 28 -- RODI Power Systems, Inc. announced today it went effective with its best efforts initial public offering of 5,000,000 Units at $4.25 per Unit. Each Unit consists of one share of Common Stock and one redeemable Common Stock purchase warrant exercisable at $5.00 per share. The company anticipates closing the offering within 90 days and subsequently being listed on the NASDAQ Market under the symbol RODI. The net proceeds to the company are expected to be used for completion of product development activities and to initiate product production. Intrepid Securities, Inc. is the underwriter of this offering. A prospectus relating to the offering can be obtained from Stephen Kelly, Intrepid Securities, Inc., 21515 Hawthorne Blvd., Suite 990, Torrance, CA 90503, telephone number 310-792-2525. RODI Power Systems, Inc. is a development stage company that is currently completing development of the HT1-450 Reverse Uniflow engine for the heavy- duty diesel truck market. With its unique reverse uniflow two-stroke cycle, V-4 configuration, and two point microprocessor engine control, the HT1-450 is designed to be significantly lighter in weight and smaller in size than competitive engines, resulting in an increase in payload for any truck using it. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such State. SOURCE RODI Power Systems, Inc.