01.25.2006
AACCESS INTEGRATED TECHNOLOGIES CLOSES 1,500,000 CLASS
A COMMON SHARE OFFERING
MORRISTOWN, N.J. – January
25, 2006 – Access Integrated Technologies, Inc. (“AccessIT”)
(AMEX: AIX) today announced
that it has completed its previously announced placement
of 1,500,000 shares of Class A Common Stock at a price
of $10.70 per share to the public. The aggregate gross
proceeds to the Company was $16,050,000. The net proceeds
of $14,736,500 are expected to be used to further fund
the ongoing Christie/AIX digital cinema deployment plan
and for working capital purposes.
Craig-Hallum Capital Group LLC acted as the sole placement
agent on the registered direct offering and as the exclusive
underwriter on the underwritten offering.
A shelf registration statement
relating to these securities was declared effective
by the Securities and Exchange Commission on January
13, 2006. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities
laws of any such state or jurisdiction. Copies of the
final prospectus supplements and the accompanying prospectus
relating to the offerings may be obtained from Suzanne
Moore, (973) 290-0080, Access Integrated Technologies,
Inc. 55 Madison Avenue, Suite 300, Morristown, NJ 07960.
Safe Harbor Statement
Investors and readers are cautioned that certain statements
contained in this document, as well as some statements
in periodic press releases and some oral statements
of AccessIT officials during presentations about AccessIT,
along with AccessIT 's filings with the Securities and
Exchange Commission, including AccessIT 's registration
statements, quarterly reports on Form 10-QSB and annual
report on Form 10-KSB, are "forward-looking'' statements
within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "Act''). Forward-looking
statements include statements that are predictive in
nature, which depend upon or refer to future events
or conditions, which include words such as "expects'',
"anticipates'', "intends'', "plans'',
“could”, “might”, "believes'', “seeks”, "estimates''
or similar expressions. In addition, any statements
concerning future financial performance (including future
revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future actions,
which may be provided by AccessIT’s management, are
also forward-looking statements as defined by the Act.
Forward-looking statements are based on current expectations
and projections about future events and are subject
to various risks, uncertainties and assumptions about
AccessIT, its technology, economic and market factors
and the industries in which AccessIT does business,
among other things. These statements are not guarantees
of future performance and AccessIT undertakes no specific
obligation or intention to update these statements after
the date of this release.
# # #
Contact:
Suzanne Tregenza Moore
AccessIT
55 Madison Avenue
Suite 300
Morristown, NJ 07960
973.290.0080
www.accessitx.com
Michael Glickman
The Dilenschneider Group
212.922.0900
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