Printer Friendly
The Free Library
19,573,952 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

ATS Corporation Announces Program for Early Exercise of Warrants.


MCLEAN, Va. -- ATS Corporation ("ATSC (Advanced Television Systems Committee) An international digital television (DTV) standard adopted by the U.S., Canada, South Korea, Taiwan and Argentina. " or the "Company") (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:ATCT ATCT Airport Traffic Control Tower (FAA)
ATCT Air Traffic Control Tower
ATCT Air Traffic Control Transponder
ATCT Analog Toll Connecting Trunk
), a leading information technology company that delivers innovative technology solutions to government and commercial organizations, announced today that the Company has offered holders of all 36,380,195 outstanding, publicly-traded warrants the opportunity to exercise the warrants on amended terms, for a limited time.

ATSC is modifying the terms of the warrants to allow holders to receive one share of common stock for every 12.5 warrants surrendered, without paying a cash exercise price. In addition, for each 10 warrants a holder tenders in the cashless exercise, the holder can exercise one additional warrant by paying a reduced cash exercise price of $2.25 for one share of common stock. Exercising warrants at the reduced cash price is not a requirement to participating in the cashless exercise.

The offer will commence on April 8, 2008, and continue until May 6, 2008 at 5 p.m., Eastern Daylight Time, unless extended or withdrawn. Existing warrants must be tendered prior to the expiration of the offer, and tenders of existing warrants may be withdrawn at anytime on or prior to the expiration of the offer. Withdrawn warrants will be returned to the holder in accordance with the terms of the offer. Upon termination of the offer, the original terms of the warrants will be reinstituted and the warrants will expire on October 19, 2009, unless earlier redeemed according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 their original terms.

"The purpose of the offer is primarily to reduce the number of warrants outstanding and thus reduce the market overhang Market overhang

The theory that, in certain situations, institutions wish to sell their shares but postpone the sale because large orders under current market conditions would drive down the share price and that the consequent threat of securities sales will tend to retard the rate
 related to our common stock. The offer will also raise additional capital if holders take advantage of the reduced cash exercise price," said Dr. Edward H. Bersoff Edward H. Bersoff is the President, CEO and founder of BTG, Inc.

Prior to founding BTG in 1982, Bersoff was President of CTEC, Inc. Previously, as an officer in the U.S. Army, he was assigned to the NASA Electronics Research Center in Cambridge, Massachusetts.
, Chairman, President and Chief Executive Officer of ATSC. "We believe that we have created a program that is attractive to holders of all of our securities."

Each director of the Company who owns warrants, including Dr. Bersoff, will exercise all of his warrants pursuant to this offer. Such exercise may be through either cashless net exercise or reduced cash exercise, at the option of the director, but in accordance with the terms of the offer. Collectively, the directors of the Company own approximately three million of the Company's outstanding warrants.

The terms and conditions of the offer are as set forth in the offer letter and related documentation and will be distributed to holders of ATSC warrants on April 8, 2008.

CRT (1) (C RunTime) See runtime library.

(2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons.
 Capital Group LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 is acting as dealer manager in connection with the warrant offer.

A copy of the offering documents may be obtained from Morrow & Co., LLC, the Information Agent for the offering. Morrow's telephone number for bankers and brokers is (800) 662-5200 and for all other security holders is (800) 607-0088. Please contact the Information Agent with any questions regarding the offering.

Investors are urged to read the following documents to be filed with the Securities Exchange Commission (SEC), as they may be amended from time to time, relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 the offer as they contain important information: (1) the Schedule TO and related Offer Letter; (2) the post-effective amendment to the registration statement on Form S-3 related to the offer; and (3) ATSC's other reports filed with the SEC for information about ATSC generally. These and any other documents relating to the offer, when they are filed with the SEC, may be obtained at the SEC's website at www.sec.gov, or from the Information Agent as noted above. This press release itself is not intended to constitute an offer or solicitation to buy or exchange securities in ATSC, nor shall there be any sale or purchase of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

An amended registration statement related to the shares of common stock that may be issued in the warrant offer program will be filed with the SEC and has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the amendment becomes effective.

About ATS Corporation

ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing See data conferencing.  and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises. Headquartered in McLean, Virginia McLean is an unincorporated community located in Fairfax County in Northern Virginia. A small geographic area along Chain Bridge Road in Arlington County has a 22101 zip code and is also part of McLean. , the Company has more than 750 employees at 14 locations across the country.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 

Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words "estimates," "believes," "anticipated," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995.

Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the Company's dependence on its contracts with federal government agencies for the majority of its revenue, the Company's dependence on its GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM.  schedule contracts and its position as a prime contractor on government-wide acquisition contracts to grow its business, and other factors discussed in the Company's latest annual report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 filed with the Securities and Exchange Commission on March 17, 2008, as amended on March 21, 2008. In addition, the forward-looking statements included in this press release represent the Company's views as of April 8, 2008. The Company anticipates that subsequent events and developments will cause its views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to April 8, 2008.

Additional information about ATSC may be found at www.atsva.com.
COPYRIGHT 2008 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 8, 2008
Words:975
Previous Article:ADC Expands PACE Program to Include Broadcast and Entertainment Connectivity Solutions.
Next Article:Harold Schaffrick, CEO of Novori, Inc. is the Featured Guest in an Audio Interview at SmallCapVoice.com.



Related Articles
Advanced Tactical Systems Paintball Gun Attracts Interest as Military Training Weapon.
Applied Terravision Shareholders Exercise 1.1 Million Warrants; Action Does Not Dilute Shareholdings of Company; Increases Institutional Holdings.
Automatic test systems: unique vs. common-core management.
ATS Corporation Completes Common Stock and Warrant Repurchase Program.
ATS Corporation Announces Extension of Warrant Exercise Program.
ATS Corporation Announces Financial Results for the First Quarter Ended March 31, 2008.
ATS Corporation Announces Successful Completion of Early Warrant Exercise Program.
ATS Corporation Announces Financial Results for the Second Quarter Ended June 30, 2008 and Bolsters Executive Team.
Rowing Machines as An Alternate Exercise Equipment - Featuring Stamina Ats 1400 Air Rower

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles