SureBeam Corporation, a subsidiary of the Titan Corporation (NYSE: TTN), today announced the filing of a registration statement with the Securities and Exchange Commission for an initial public offering of its Class A Common Stock. All shares in the offering will be sold by SureBeam Corporation.
Merrill Lynch & Co. and Credit Suisse First Boston are acting as lead managers for the proposed underwriting group. Copies of the preliminary prospectus relating to this offering are not yet available. When available, a copy of the prospectus may be obtained from Merrill Lynch & Co., World Financial Center, North Tower, 250 Vesey Street, New York, New York 10281 and Credit Suisse First Boston, 11 Madison Avenue, Attn: Prospectus Dept., New York, New York, 10010-3629.
SureBeam Corporation is the leading provider of patented and proprietary electronic pasteurization systems and services for the food industry. The company’s electronic food pasteurization process significantly improves food safety, prolongs shelf life and provides disinfestation, without compromising food quality. The SureBeam process is based on proven electron beam technology that destroys harmful food-borne bacteria such as E-coli, salmonella and listeria and eliminates or renders harmless fruit flies and other pests.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication 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 state.
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