EXHIBIT 99.1
AIR METHODS
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The #1 Airborne Healthcare Company
AIR METHODS ANNOUNCES PRIVATE EQUITY FINANCING
DENVER, CO, December 1, 2003 -- Air Methods Corporation (NASDAQ: AIRM) announced
today that it has entered into an agreement to sell shares of its common stock
to institutional investors. The transaction is subject to customary closing
conditions, and is expected to close later today, December 1, 2003.
The agreement reflects a private placement transaction for 1.2 million shares at
a per share price of $8.00. C.E. Unterberg, Towbin acted as placement agent for
the offering.
The Company expects to use the net proceeds of the financing for general
corporate purposes.
The securities being offered and sold by Air Methods in the private placement
have not been registered under the Securities Act of 1933, as amended, and may
not be reoffered or resold absent registration, unless an exemption from
applicable registration requirements is available. However, Air Methods has
agreed to file a registration statement with the Securities and Exchange
Commission to permit resales of the shares of common stock sold in the private
placement. This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities.
Air Methods Corporation (www.airmethods.com) is a leader in emergency
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aeromedical transportation, medical services and technology. The Air Medical
Services Division is the largest provider of air medical transport services for
hospitals in the world. The LifeNet division is the largest community-based
provider of air medical services. The Products Division specializes in the
design and manufacture of aeromedical and aerospace technology. The Company's
fleet of owned, leased or maintained aircraft features over 170 helicopters and
fixed wing aircraft.
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AIRM
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NASDAQ
LISTED
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FORWARD LOOKING STATEMENTS: This news release includes certain forward-looking
statements, which are subject to various risks and uncertainties. Actual results
could differ materially from those currently anticipated due to a number of
factors, including but not limited to the size, structure and growth of the
Company's air medical services and products markets; the continuation and/or
renewal of air medical service contracts; the acquisition of profitable Products
Division contracts and other flight service operations; the successful expansion
of the community-based operations; successful integration of Rocky Mountain
Holdings, LLC operations and other matters set forth in the Company's public
filings.
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CONTACTS: Aaron D. Todd, Chief Executive Officer, (303) 792-7413 or RCG Capital
Markets Group, Inc. at (480) 675-0400. Please contact Christine Clarke at (303)
792-7579 to be included on the Company's fax and/or mailing list.