InfuSystems Reports Drop in Profits
Posted March 03, 2010 1:36PM PST

InfuSystem Holdings, formerly the SPAC HAPC Inc., reported fourth-quarter profits of $966,000, down from $1.3 million in the year-earlier period.

The medical equipment company cited an increase in "doubtful accounts" as well as maintenance costs.

InfuSystems is in the midst of a tender offer for all of its outstanding warrants. The company is offering warrant holders one share for every 35 warrants, or one share for every 25 warrants if the warrant holder agrees to a six month lock-up.

The tender offer, which began Feb. 16, is set to expire March 17.

InfuSystem's warrants closed today at 8.5 cents, a 42% increase from its warrant price before the offer was made.

Shares have risen from $2.25 before the offer to close at $2.42 today.

InfuSystems went public in October 2007. Its shares remain traded on the Bulletin Board.

Sources: Press Release, SC TO-I


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