Avitar Announces $750,000 Private Placement

Avitar announced that it entered into a $750,000 private placement of convertible preferred stock and warrants with Cornell Capital Partners. Gross proceeds of $375,000 were raised at the first closing and the second tranche of $375,000 gross proceeds are expected at the second closing within 30 days or less.

PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/04-22-2005/0003444680&EDATE=)