Printer Friendly

AIR METHODS CORP. RESTRUCTURES AND EXTENDS PUBLICLY TRADED COMMON STOCK PURCHASE WARRANTS

 Warrants Extended to May 15, 1993, and Exercise
 Price Modified to $4.50 Per Equivalent Share
 DENVER, Feb. 23 /PRNewswire/ -- As a result of the issuance of securities through its recently completed $7.2 million private placement financing, Air Methods Corp. (AMEX: ARF.EC) announced that various required adjustments have been made to the company's publicly traded warrants issued as part of its 1987 initial public offering. These warrants now trade on the American Stock Exchange's Emerging Company Marketplace under the ticker symbol "ARFWS.EC" and are due to expire on Feb. 27, 1993. Accordingly, and as a result of the $7.2 million financing, the exercise price of each warrant has been decreased from $24.81 per share to $10.56 per share, with the number of shares of the company's common stock issuable upon the exercise of each warrant increased from .322 to .757 shares.
 However, Air Methods Corp. today announced a restructuring of these warrants as approved by its board of directors. In light of the substantial recapitalization of the company over the past 15 months, the warrant exercise price has been reduced to $4.50 per equivalent share of common stock. In this connection, each holder of one warrant will actually receive .757 shares of registered common stock of the company upon payment of $3.41 per warrant based upon this restructuring.
 The company also announced that the expiration date of these warrants has been extended from Feb. 27, 1993, to May 15, 1993. In addition, Air Methods Corp. intends to file a registration statement covering the shares of common stock underlying these warrants in the near future. Consequently, the offering of such shares underlying these warrants will be made only by means of a prospectus. The company expects that such a prospectus will be available 30 days before the May 15, 1993, revised warrant expiration date.
 Air Methods Corp. is the largest exclusive provider of state-of- the-art emergency air medical transportation systems and services to hospitals throughout the United States. Air Methods now serves 43 hospitals in 13 states under 19 dedicated long-term operating agreements. The company utilizes only IFR-certified pilots and aircraft, including 26 helicopters and five airplanes, to perform these services. In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 2/23/93
 /CONTACT: W. Terrance Schreier, chairman and CEO, or William H. Critchfield, executive VP and CFO, of Air Methods, 303-790-0587/
 (ARF.EC ARFWS.EC)


CO: Air Methods Corp. ST: Colorado IN: AIR SU: RCN

JB-LS -- LA009 -- 9231 02/23/93 08:07 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 23, 1993
Words:451
Previous Article:MICHIGAN LAWYERS, JUDGES SLATE 'A TRIBUTE TO THURGOOD MARSHALL' FOR THURSDAY, FEB. 25, IN DETROIT
Next Article:BENEDICTINE HEALTH SYSTEM AGREES TO AFFILIATION OF ST. FRANCIS REGIONAL MEDICAL CENTER WITH HEALTHSPAN
Topics:


Related Articles
AIR METHODS CHANGES NASDAQ TRADING SYMBOL FROM
AIR METHODS ANNOUNCES FURTHER WARRANT ADJUSTMENT; MANAGEMENT TO CONSIDER FURTHER MODIFICATIONS IN LINE WITH AUGUST, 1992 WARRANT EXPIRATION
AIR METHODS SHAREHOLDERS APPROVE 1-FOR-6 REVERSE SPLIT AND SALE OF PREFERRED STOCK BY ROBERTSON STEPHENS & CO.
AIR METHODS ANNOUNCES EXTENSION OF WARRANTS
HANSEN NATURAL CORP. (HANS) EXTENDS CLASS A AND CLASS B WARRANTS
STEINWAY CAPITAL ANNOUNCES REORGANIZATION WITH MULTI-CARE, INC.
AIR METHODS EXTENDS 1987 PUBLIC WARRANTS TO JUNE 15, 1993
AIR METHODS CONFIRMS EXPIRATION OF 1987 PUBLICLY TRADED WARRANTS AT CLOSE OF BUSINESS TOMORROW, JUNE 15, 1993
AIR METHODS SUCCESSFULLY COMPLETES CONVERSION OF 1987 PUBLICLY TRADED COMMON STOCK PURCHASE WARRANTS
AIR METHODS INITIATES CALL OF FINAL 1992-1993 INSTITUTIONAL PRIVATE PLACEMENT COMMON STOCK PURCHASE WARRANTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters