ARC Capital Redeems its Class E Common Stock.MEDFORD, Ore.--(BUSINESS WIRE)--Feb. 15, 1996--ARC Capital (ARC) (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 : ARCCA ARCCA Australian Restoration and Carpet Cleaning Association (Australia) ARCCA Army Reserve Clinical Credentialing Affairs (US Army) ARCCA Army Reserve Centralized Credential Agency (US DoD) ) announced that, effective Feb. 15, 1996, it would redeem 497,000 shares of its Class E Common Stock for $.00001 per share (a total of $4.97) pursuant to provisions of ARC's Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. . The Class E Common Stock was issued prior to ARC's initial public offering in March 1992. The redemption reduces ARC's total number of common shares outstanding from 9,930,785 to 9,433,691. Concurrently, 3,002,906 Class E Warrants to purchase Class A Common Stock at $5.11 per share expired. ARC's business currently consists of SRC (SouRCe) Contrast with DST, which is an abbreviation of "destination." Vision, a leading manufacturer of computer aided vision sorting and defect removal equipment. CONTACT: ARC Capital Alan Steel, 541/776-7700 or The Wall Street Group Inc. Ronald Stabiner, 212/888-4848 |
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