AV, Inc. Commences $2.25 Per Share Cash Tender Offer for Up to 900,000 Shares of the Common Stock of Aqua Care Systems, Inc.Business Editors TORRANCE, Calif.--(BUSINESS WIRE)--Feb. 22, 2001 AV, Inc. (the "Company") announced today that it is commencing a tender offer to purchase up to 900,000 shares of the common stock of Aqua Care Systems, Inc. ("Aqua Care") (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 : AQCR AQCR Air Quality Control Region (US EPA) AQCR Air Quality Control Regulation ) for $2.25 per share in cash. The tender offer is conditioned upon at least 500,000 shares being tendered and is scheduled to expire on Thursday, March 22, 2001 at 12:00 midnight, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of time, unless extended. After consummation of the tender offer, the Company intends to explore all alternatives to elect a new board of directors and replace senior management of Aqua Care. Innisfree M&A Incorporated is acting as information agent for the tender offer. AV, Inc. was formed by Walter Neubauer and Aref Cheval for the purpose of making an investment in the Company. Aqua Care Systems, Inc., based in Coral Springs, Florida Coral Springs, officially chartered July 10, 1963, is a city in Broward County, Florida, United States, approximately 20 miles (32 km) northwest of Fort Lauderdale, Florida. According to the U.S. , designs, manufactures and sells fluid handling, filtration and water purification  It has been suggested that , , and be merged into this article or section. systems and products. The tender offer will only be made pursuant to offering materials being distributed to aqua care's stockholders beginning on February 22, 2001. The tender offer materials (including the offer to purchase, the related letter of transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. and the other offer documents) contain important information which should be read carefully before any decision is made with respect to the offer. The offer to purchase, the related letter of transmittal and certain other offer documents will be made available to all stockholders of the Company, at no expense to them. The tender offer materials (including the offer to purchase, the related letter of transmittal and the other offer documents filed with the Commission) are also available for free at the Commission's Web site at www.sec.gov. |
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