SOURCE: BASi (Bioanalytical Systems, Inc.)

BASi (Bioanalytical Systems, Inc.)

February 28, 2011 17:00 ET

Bioanalytical Systems, Inc. Files Form S-1 to Raise Up to $5,000,000 Through Registered Public Offering

WEST LAFAYETTE, IN--(Marketwire - February 28, 2011) - (NASDAQ: BASI) Bioanalytical Systems, Inc. (the "Company") announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed registered public offering of up to $5 million of units comprised of Series A convertible preferred shares and warrants to purchase common shares. The proceeds received by the Company from the offering will be used to purchase laboratory equipment and for working capital and general corporate purposes.

The placement agent of the proposed offering will be Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex: LTS). A copy of the preliminary prospectus, when available, may be obtained from the offices of Ladenburg Thalmann & Co. Inc., Prospectus Department, 520 Madison Avenue, 9th Floor, New York, New York, 10022, telephone: (212) 409-2000. Electronic copies will also be available on the Securities and Exchange Commission's website at

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 news release does not constitute an offer to sell these securities or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Bioanalytical Systems, Inc.
BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world's leading drug development companies and medical research organizations. The company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug to market. Visit for more about BASi.