ARC Capital announces expiration of unit purchase options.MEDFORD, Ore.--(BUSINESS WIRE)--March 12, 1997--ARC Capital (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) ), a leading designer, manufacturer and marketer of proprietary computer-aided vision defect defect - bug detection and sorting systems, today announced the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of 188,400 Unit Purchase Options originally issued in connection with the company's 1992 initial public offering. The Unit Purchase Options permitted the holders to purchase ARC's Class A Common Stock and Class A and Class B Warrants. The effect of the expiration is to eliminate approximately 1,700,000 potentially issuable shares of Class A Common Stock. ARC's operations are comprised of three wholly-owned subsidiaries, SRC (SouRCe) Contrast with DST, which is an abbreviation of "destination." VISION, Pulsarr and Ventek, which design, manufacture and distribute automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. machine vision systems used in defect identification and sorting and removal processes. CONTACT: ARC Capital Alan Steel, 541/776-7700 or The Wall Street Group Inc. Ronald Stabiner, 212/888-4848 |
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