Acrodyne Communications extends redemption date for warrant call.BLUE BELL, Pa.--(BUSINESS WIRE)--July 16, 1996--Acrodyne Communications, Inc. (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 : ACRO acro Acronym ACRO Australian Creative Resources Online ACRO Association of Clinical Research Organizations ACRO American College of Radiation Oncology ACRO Aircraft Crashes Record Office (Geneva, Switzerland) acro acrolein , ACROW, ACROU) today announced that it has extended the date on which it will redeem all of its outstanding Redeemable Common Stock Purchase Warrants. The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. has been extended to July 29, 1996 from July 17, 1996. The redemption price is $.01 per Warrant. As a result of the extension of the redemption date, the Company has also extended the date until which Warrantholders are entitled to exercise their Warrants to purchase shares of the Company's Common Stock. Warrantholders may exercise their Warrants at an exercise price of $3.50 per share provided the Warrants are tendered for exercise prior to the close of business on July 26, 1996. Acrodyne Industries, Inc., the operating subsidiary of Acrodyne Communications, Inc., is an established and respected manufacturer of television broadcast equipment. In business over 25 years, the Company has developed the leading position as a technologically advanced, high quality low cost producer of transmitters and translators used by television stations to broadcast and retransmit Verb 1. retransmit - transmit again channel, transmit, carry, impart, conduct, convey - transmit or serve as the medium for transmission; "Sound carries well over water"; "The airwaves carry the sound"; "Many metals conduct heat" over-the-air signals. CONTACT: A. Robert Mancuso, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ACRODYNE COMMUNICATIONS, INC. (215) 542-7000 or Stephen D. Axelrod, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. Mona J. Walsh Susan Bolen (Media) WOLFE AXELROD ASSOCIATES (212) 370-4500; (212) 370-4505 (Fax) |
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