APCOA/Standard Parking Announces An Extention Of Its Exchange Offer.Business Editors CHICAGO--(BUSINESS WIRE)--Dec. 20, 2001 APCOA/Standard Parking, Inc. ("APCOA/Standard Parking") announced today that it will extend the exchange period for its unregistered offer to exchange its outstanding 9 1/4% Senior Subordinated Notes due 2008 ("9 1/4% Notes") for either (i) $50.0 million (with a minimum of $45.5 million and a maximum of $65.0 million) of its newly issued 14% Senior Subordinated Second Lien A Second lien financing is a form of financing secured on a second ranking basis by (more or less) the same security, which secures the first ranking financing. The first lien lenders and the second lien lenders agree that, in the event of a security enforcement or bankruptcy, the Notes due 2006 ("14% Notes") plus the payment by exchanging bondholders of additional cash to APCOA/Standard Parking, or (ii) its newly issued 18% Senior Convertible Redeemable Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. (the "Preferred Stock") and its solicitation of consents from holders of its 9 1/4% Notes to modify certain financial and restrictive covenants Restrictive covenants Provisions that place constraints on the operations of borrowers, such as restrictions on working capital, fixed assets, future borrowing, and payment of dividends. to the indenture governing the 9 1/4% Notes. To date, APCOA/Standard Parking has received tenders and consents of approximately $91.1 million in aggregate principal amount of 9 1/4% Notes, of which $35.0 million tendered their notes for shares of Preferred Stock. The Exchange Offer will expire at 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on Tuesday, January 8, 2002. APCOA/Standard Parking is extending the Exchange Offer to make certain modifications to the Exchange Offer. A supplement to the Offering Circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. and Consent Solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with dated November 20, 2001, as amended on December 4, 2001, will be sent to holders of 9 1/4% Notes. The securities issued in the exchange offer will not be registered under the Securities Act of 1933, as amended and may not be sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from registration requirements. APCOA/Standard Parking has approximately 13,700 employees, and manages more than 1,950 airport and urban parking facilities in over 260 cities spanning 43 states and three Canadian provinces. The foregoing contains certain "forward-looking statements" which are based on management's beliefs as well as on a number of assumptions concerning future events made by, and information available to, management. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc any improvement in our liquidity. Although APCOA/Standard Parking believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefor there·for adv. For that: ordering goods and enclosing payment therefor. Adv. 1. therefor , there can be no assurance that the forward-looking statements included herein will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by APCOA/Standard Parking or any other persons that the objectives and plans of APCOA/Standard Parking will be achieved. APCOA/Standard Parking disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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