Alpha Microsystems redeems warrants.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--June 19, 1996-- Alpha Microsystems Alpha Microsystems is a computer company founded in 1977 by Dick Wilcox and Bob Hitchcock. The first Alpha Micro computer was based upon the WD16 microprocessor chip from Western Digital. (Nasdaq NM:ALMI ALMI Application Level Multicast Infrastructure ALMI Automated Listing and Mapping Instrument (US Census Bureau) ) Wednesday announced that it redeemed its Redeemable Warrants on June 17, 1996, pursuant to its May 14, 1996, notice of redemption. Prior to 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. , approximately 3,411,171 or 98.5 percent of the outstanding Redeemable Warrants were exercised, resulting in gross proceeds to the Company of approximately $8.5 million. Certain other warrants were also exercised during the period, resulting in the additional issuance of approximately 690,548 shares, and approximately $1.6 million of additional gross proceeds. Total shares issued from the exercise of all warrants were approximately 4,101,719, resulting in total gross proceeds of approximately $10.1 million. All Redeemable Warrants that were not exercised were redeemed for $0.05 each as of 5:00 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT on June 17,1996, and became null and void except for the right to receive the redemption value Redemption Value refers to the value that is placed on a party's head after they wrong you in some way. It is seen as the payment you are willing to make to get justice. . The Company has granted Sutro an option, exercisable in Sutro's sole discretion, to purchase from the Company the shares of Common Stock that otherwise would have been delivered upon exercise of the Redeemable Warrants that were surrendered for redemption. After the Warrant exercises, approximately 10.7 million shares of Common Stock will be outstanding. The Redeemable Warrants, which were formerly traded on Nasdaq under the symbol ALMIW, are no longer traded; Common Stock issued in connection with warrant exercises is traded with the Company's Common Stock on the Nasdaq National Market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors ALMI. Alpha Microsystems serves the Internet and Intranet markets through its software and technologies. With 46 Alpha Microsystems locations, as well as third party distribution channels worldwide, the Company also provides products and services such as consulting, maintenance, software, hardware, and networking, both directly and through value-added resellers and distributors. For information, contact the Company's Web site at http://www.alphamicro.com CONTACT: Allen & Caron/South Coast Communications Group Owen Daley (media) 714/252-8440 Kent Broussard (investors) 212/698-1360 |
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