ABX Air to Issue an Additional 5.77 Million Shares.Business Editors WILMINGTON, Ohio--(BUSINESS WIRE)--Dec. 9, 2003 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 will issue approximately 5.77 million additional shares of common stock as a result of the completion of a public tender offer for the 5.75% Convertible Senior Notes Due April 1, 2007 originally issued by Airborne, Inc. in March 2002. 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, 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, the notes remained outstanding. Airborne recently announced a tender offer to buy back the outstanding notes. The note holders were given the option to retain their notes, tender them for $1,080 per $1,000 principal amount of the notes in cash, or receive $993.65 per $1,000 principal amount of the notes in cash plus 42.7599 shares of ABX Air common stock. The tender offer expired on December 2, 2003. Nearly 94% of the outstanding notes were tendered to Airborne, with holders of approximately 90% of such notes selecting the option that includes cash and ABX Air common stock, while slightly less than 4% opted for the cash-only option. As a result, ABX Air will issue 5,768,171 additional shares of common stock, bringing the total number of ABX Air outstanding shares of common stock to 57,875,300. ABX Air will not receive any proceeds as a result of Airborne's tender offer or the associated issuance of shares of common stock of ABX Air. 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, B.V., 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. |
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