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Home > Press > Harris & Harris Group Notes Announcement of Acquisition of Crystal IS by Asahi Kasei Group

Abstract:
Harris & Harris Group, Inc. (NASDAQ: TINY) notes that the acquisition of Crystal IS, Inc., by Asahi Kasei Group was announced publicly today. This transaction is the acquisition of the undisclosed cleantech portfolio company announced by us in a press release on January 10, 2012. The press release issued by Asahi Kasei Group can be accessed at http://www.nanotech-now.com/news.cgi?story_id=44264 .

Harris & Harris Group Notes Announcement of Acquisition of Crystal IS by Asahi Kasei Group

New York, NY | Posted on January 11th, 2012

Between 2004 and 2009, Harris & Harris Group invested approximately $1.75 million in Crystal IS. As of September 30, 2011, Harris & Harris Group valued its shares of Crystal IS at $0. On December 28, 2011, Harris & Harris Group received a portion of its payment of approximately $1.74 million in cash. Another approximately $288,000 is being held in escrow for a period of 15 months. Our January 10, 2012, press release can be accessed at www.hhvc.com/releasedetail.cfm?ReleaseID=638223.

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About Harris & Harris Group, Inc.
Harris & Harris Group is an early-stage, active investor in transformative nanotechnology companies.

Harris & Harris Group Notes Announcement of Acquisition of Crystal IS by Asahi Kasei Group

Harris & Harris Group, Inc. (NASDAQ: TINY) notes that the acquisition of Crystal IS, Inc., by Asahi Kasei Group was announced publicly today. This transaction is the acquisition of the undisclosed cleantech portfolio company announced by us in a press release on January 10, 2012. The press release issued by Asahi Kasei Group can be accessed at http://www.asahi-kasei.co.jp/asahi/en/news/2011/e120111.html.

Between 2004 and 2009, Harris & Harris Group invested approximately $1.75 million in Crystal IS. As of September 30, 2011, Harris & Harris Group valued its shares of Crystal IS at $0. On December 28, 2011, Harris & Harris Group received a portion of its payment of approximately $1.74 million in cash. Another approximately $288,000 is being held in escrow for a period of 15 months. Our January 10, 2012, press release can be accessed at http://www.hhvc.com/releasedetail.cfm?ReleaseID=638223.

Harris & Harris Group is an early-stage, active investor in transformative nanotechnology companies. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com.

This news 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 news release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, as well as subsequent filings, 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, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the websites www.HHVC.com and www.asahi-kasei.co.jp have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this news release.

For more information, please click here

Contacts:
Douglas W. Jamison
(212) 582-0900

Copyright © Harris & Harris Group, Inc.

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