By Jennifer Chiou
New York, Dec. 21 - Regis Technologies, Inc. raised $3.03 million from the sale of industrial development bonds and refunding bonds issued through the Illinois Finance Authority.
First American Bank purchased the bonds.
"The funding made possible by the IFA comes at a major point in our company's history when our factory was near capacity," Regis president Louis Glunz, IV, said in a news release.
"With the added production capacity and more services, we expect to continue similar growth over the next five to eight years."
Proceeds will go towards the company's expansion, including the build-out of its manufacturing plant with a 7,000-square foot synthesis laboratory and new laboratory and pollution control equipment.
Morton Grove, Ill.-based Regis produces small-molecule pharmaceuticals for clinical trials and commercial uses. The company's customers include Abbott Laboratories, DeCode Genetics and Immtech International.
| Issuer: | Regis Technologies, Inc. (through the Illinois Finance Authority)
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| Issue: | Industrial development bonds and refunding bonds
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| Amount: | $3.03 million
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| Investor: | First American Bank
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| Announcement date: | Dec. 21
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