HOLLISTON, Mass., Dec. 11, 2012 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq:HBIO), a global developer, manufacturer and marketer of a broad range of tools to advance life science research and regenerative medicine, today announced that its wholly-owned subsidiary, Harvard Apparatus Regenerative Technology, Inc., filed a registration statement with the SEC for an initial public offering, or IPO, of Harvard Apparatus Regenerative Technology's common stock. Following the IPO, Harvard Apparatus Regenerative Technology will own Harvard Bioscience's regenerative medicine device business, which develops life-saving medical devices in the field of regenerative medicine, including devices to be used by physicians for growing organs outside the body for transplant. Following the IPO, Harvard Bioscience will own at least 80% of Harvard Apparatus Regenerative Technology's common stock. Harvard Bioscience intends to distribute its remaining interest in Harvard Apparatus Regenerative Technology to Harvard Bioscience's shareholders in a pro-rata, tax-free dividend approximately 120 days following the closing of the IPO. Summer Street Research Partners will act as sole book-running manager for the offering.
Conference Call Details
Management will host a conference call to discuss the impact of the IPO and the pro-rata dividend on Harvard Bioscience and its shareholders. This call will be simultaneously broadcast over the Internet and can be accessed through the Harvard Bioscience, Inc. web site. In addition, management may discuss and answer questions concerning the IPO filing, Harvard Bioscience's intention to subsequently distribute Harvard Bioscience's remaining interest in a pro-rata, tax-free dividend, management's views on the spin-off's effects on Harvard Bioscience and other business and financial matters affecting Harvard Bioscience. Some of these discussions and responses to questions may contain information that has not been previously disclosed. The conference call will begin at 8:30 a.m. eastern time tomorrow, December 12, 2012. To listen to the conference call, log on to our website at www.harvardbioscience.com and click on the Earnings Call icon. The conference call will be referenced as an Upcoming Event. If you are unable to listen to the live webcast, the call will be archived in the investor relations section of our website.The live conference call is also accessible by dialing toll-free 877-303-7611, or toll 970-315-0445, and referencing the pass code 80382716. A replay of this conference call will be available from 11:30 a.m. eastern time on December 12, 2012 through December 21, 2012 and will be accessible by dialing toll-free 855-859-2056, or toll 404-537-3406, and referencing the pass code 80382716.