ABX Air Issues 395,100 Additional Shares as Final Airborne Convertibles Are Tendered.Business Editors WILMINGTON, Ohio--(BUSINESS WIRE)--Jan. 5, 2004 ABX Air ABX Air (NASDAQ: ABXA) is a cargo airline based in Wilmington, Ohio, USA. It operates scheduled, ad hoc charter and ACMI freight services, including overnight express small-package services and freight in the USA, Canada and Puerto Rico. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABXA) announced today the company has issued 395,100 additional shares of common stock, the last such shares to be issued in accordance with the terms of Airborne's convertible securities. In March 2002, Airborne, Inc. issued 5.75% Convertible Senior Notes, due April 1, 2007. Since all of the convertibles have now been tendered, there will be no further shares of ABX Air issued as a result of Airborne's convertible securities. Including this final conversion and the 5.77 million shares issued in December, ABX Air now has approximately 58.27 million shares outstanding. DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature Worldwide Express, B.V. purchased the ground operations of Airborne in August 2003, and ABX Air, formerly a subsidiary of Airborne, was separated into an independent, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . After the completion of the merger and separation, Airborne's notes remained outstanding. Airborne announced a tender offer in November to buy back the outstanding notes and most of the holders tendered their notes in accordance with the offer. Although that tender offer has since expired, the remaining holders recently elected to convert their notes in accordance with the terms of the governing indenture, resulting in ABX Air issuing an additional 395,100 shares of common stock. ABX Air did not receive any proceeds as a result of Airborne's tender offer, the most recent conversion, or the associated issuance of shares of its common stock. ABX Air is a cargo airline This article is about the general type of air carrier. For the Israeli cargo airline, see CAL Cargo Air Lines. Cargo airlines (or airfreight carriers, and derivatives of these names) are airlines dedicated to the transport of cargo. with a fleet of 115 aircraft that operates out of Wilmington, Ohio For other places with the same name, see Wilmington (disambiguation). Wilmington is a city in Clinton County, Ohio, United States. The population was 11,921 at the 2000 census. It is the county seat of Clinton County. , and eleven hubs throughout the United States. In addition to providing airlift capacity and sort center staffing to Airborne, an indirect wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of DHL Worldwide Express, ABX Air provides charter and maintenance services to a diverse group of customers. With over 7,400 employees, ABX Air is the largest employer in a several county area in southwestern Ohio. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion