ACRODYNE HOLDINGS, INC. ANNOUNCES SEPARATION OF UNITS.BLUE BELL, Pa.--(BUSINESS WIRE)--Feb. 10, 1995--In accordance with the terms of the Company's initial public offering, Acrodyne Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACROU, ACRO acro Acronym ACRO Australian Creative Resources Online ACRO Association of Clinical Research Organizations ACRO American College of Radiation Oncology ACRO Aircraft Crashes Record Office (Geneva, Switzerland) acro acrolein , ACROW) announces that its Units will be separated and available for trading as Units (ACROU), Common Stock (ACRO) and Warrants (ACROW) on February 13, 1995. The offering of 1,495,000 Units (consisting of one share of Common Stock and one Redeemable Common Stock Purchase Warrant), inclusive of inclusive of prep. Taking into consideration or account; including. the exercise of the over-allotment of 195,000 Units, was managed by GKN GKN Guest, Keen & Nettlefolds (British global engineering company) GKN Global Knowledge Network GKN Gemeenschappelijke Kernenergiecentrale Nederland GKN Global Korean Network GKN Iks Gorkon (Star Trek novel Series) Securities and was completed on October 14, 1994. Each Warrant entitles the holder to purchase one share of Common Stock for $3.50 during the four-year period commencing one year after the date of the offering. The Company may redeem the Warrants at a price of $0.01 per Warrant at any time after they become exercisable upon not less than 30 days prior written notice if the last sale price of the Common Stock has been at least $6.00 per share for the 20 consecutive trading days ending on the third day prior to the date on which the notice of redemption is given. -0- Acrodyne Industries, Inc., an operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of Acrodyne Holdings, Inc., is an established and respected manufacturer of television broadcast equipment. In business over 20 years, the Company has developed the leading position as a technologically advanced, high quality low cost producer of transmitters and translators used by television stations to broadcast and retransmit Verb 1. retransmit - transmit again channel, transmit, carry, impart, conduct, convey - transmit or serve as the medium for transmission; "Sound carries well over water"; "The airwaves carry the sound"; "Many metals conduct heat" over-the-air signals. CONTACT: or Stephen D. Axelrod A. Robert Mancuso, Mona J. Walsh ACRODYNE HOLDINGS, INC. WOLFE AXELROD ASSOCIATES 215/542-7000 212/370-4500 |
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