FARO announces Filing of Shelf Registration Statement
LAKE MARY, Fla., Dec. 21, 2012
LAKE MARY, Fla., Dec. 21, 2012 /PRNewswire/ -- FARO Technologies, Inc.
(NASDAQ: FARO) today announced that it has filed a shelf registration
statement on Form S-3 with the Securities and Exchange Commission (SEC). The
Company does not have immediate plans to sell securities under the shelf
registration statement. Under the shelf registration statement, when declared
effective by the SEC, FARO Technologies, Inc., may offer and sell from time to
time up to $250 million of the Company's ordinary shares, warrants, or units
or any combination thereof. The specifics of any future offering, along with
the prices, terms and the use of proceeds will be described in a prospectus
supplement filed with the SEC prior to the completion of the offering.
The shelf registration statement has been filed with the SEC but has not yet
become effective. The securities registered may not be sold nor may offers to
buy these securities be accepted prior to the time the registration becomes
effective. This press release shall not constitute a solicitation of an offer
to buy, nor shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities law of any such
jurisdiction. Any offering of these securities will be made solely by means
of the prospects included in the registration statement and any prospectus
supplement that may be issued with respect to such offering.
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that are subject to risks
and uncertainties, such as statements about demand for its products, and its
future operating results and financial condition. Statements that are not
historical facts or that describe the Company's plans, objectives,
projections, expectations, assumptions, strategies, or goals are
forward-looking statements. In addition, words such as "intend," "believe,"
"will," "expect" and similar expressions or discussions of FARO's plans or
other intentions identify forward-looking statements. Forward-looking
statements are not guarantees of future performance and are subject to various
known and unknown risks, uncertainties, and other factors that may cause
actual results, performances, or achievements to differ materially from future
results, performances, or achievements expressed or implied by such
forward-looking statements. Consequently, undue reliance should not be placed
on these forward-looking statements.
Factors that could cause actual results to differ materially from what is
expressed or forecasted in such forward-looking statements include, but are
not limited to:
odevelopment by others of new or improved products, processes or
technologies that make the Company's products obsolete or less
oproduction delays caused by shortages of raw materials incorporated in the
othe cyclical nature of the industries of the Company's customers and
material adverse changes in customers' access to liquidity and capital;
odeclines or other adverse changes, or lack of improvement, in industries
that the Company serves or the domestic and international economies in the
regions of the world where the Company operates and other general
economic, business, and financing conditions;
orisks associated with international operations, such as fluctuations in
currency exchange rates, difficulties in staffing and managing foreign
operations, political and economic instability, compliance with import and
export regulations, and the burdens and potential exposure of complying
with a wide variety of U.S. and foreign laws and labor practices;
oother risks detailed in Part I, Item 1A. Risk Factors in the Company's
Annual Report on Form 10-K for the year ended December 31, 2011.
Forward-looking statements in this release represent the Company's judgment as
of the date of this release. The Company undertakes no obligation to update
publicly any forward-looking statements, whether as a result of new
information, future events, or otherwise.
With over 30,000 installations and 15,000 customers globally, FARO
Technologies, Inc. designs, develops, and markets portable, computerized
measurement and imaging devices and software used to create digital models --
or to perform evaluations against an existing model -- for anything requiring
highly detailed 3-D measurements, including part and assembly inspection,
factory planning and asset documentation, as well as specialized applications
ranging from surveying, recreating accident sites and crime scenes to
digitally preserving historical sites.
FARO's technology increases productivity by dramatically reducing the amount
of on-site measuring time, and the various industry-specific software packages
enable users to process and present their results quickly and more
Principal products include the world's best-selling portable measurement arm
-- the FaroArm; the world's best-selling laser tracker -- the FARO Laser
Tracker Vantage; the FARO Laser ScanArm; FARO Focus 3D Laser Scanner; the FARO
Gage, Gage-PLUS and PowerGAGE; and the CAM2 Q family of advanced CAD-based
measurement and reporting software. FARO Technologies is ISO-9001 certified
and ISO-17025 laboratory registered.
SOURCE FARO Technologies, Inc.
Contact: Keith Bair, Senior Vice President and CFO, keith.bair@FARO.com,
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