AV, Inc. Completes Tender Offer for Shares of Aqua Care Systems, Inc.Business Editors TORRANCE, Calif.--(BUSINESS WIRE)--March 29, 2001 AV, Inc. (the "Company") today announced the successful completion of its $2.25 per share cash tender offer for up to 1,050,000 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 ). The tender offer expired at 12:00 midnight on Wednesday, March 28, 2001, at which time approximately 1,492,784 shares, or approximately 50.6%, of Aqua Care's outstanding shares had been tendered, including guaranteed deliveries. The Company has accepted for payment only 1,050,000 shares of Aqua Care's common stock, or approximately 70.3% of the total amount tendered. All acceptances will be made on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis subject to the receipt of all guaranteed deliveries. Payment for the shares tendered will be made promptly through Wilmington Trust Wilmington Trust (NYSE: WL) was founded on July 8, 1903) as a banking, trust, and safe deposit company by DuPont president T. Coleman du Pont. He opened the business in the dining room and parlor of a former private residence at 915 Market Street in Wilmington, Delaware with a Company, the depositary for the tender offer. After payment for the 1,050,000 shares, the Company will own 1,184,900 shares, or approximately 39.9% of the total issued and outstanding shares of Aqua Care. AV, Inc. was formed by Walter Neubauer and Aref Cheval for the purpose of making an investment in Aqua Care. 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 systems and products. |
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