Harris & Harris Group, Inc.®, announced today that it invested an additional $2,500,000 in privately held Molecular Imprints, Inc., of Austin, TX, bringing its total investment in Molecular Imprints to $4,500,000. The investment was as part of a Series C financing that raised $17 million in the first closing of a planned $25 million Series C financing. Molecular Imprints provides enabling lithography systems for manufacturing applications in: nano devices, LEDs for solid state lighting, magnetic data storage for micro disk drives and others. Other investors participating in this financing include Dai Nippon Printing Company (DNP), Alloy Ventures, Motorola Ventures, Draper Fisher Jurvetson, Hakuto Co., Ltd., Asset Management and others. Molecular Imprints will use the money to expand its Imprio® product line.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 24 initial private equity investments have been in tiny-technology enabled companies. The Company has 20,756,345 shares of common stock outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2004, filed with the Securities and Exchange Commission, for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc.®, undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.