Andrx Converts Cybear Group Common Stock to Andrx Group Common Stock.Business Editors FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--May 17, 2002 Andrx Corporation today completed its previously announced conversion of the outstanding shares of its Cybear Group common stock (Nasdaq:CYBA CYBA Charter Yacht Broker Association CYBA Conejo Youth Basketball Association (Conejo Valley, California) CYBA California Yacht Brokers Association CYBA Cybertron Army CYBA Columbia Yacht Brokers Association ) into shares of its Andrx Group common stock (Nasdaq:ADRX ADRX Andrx Corporation (stock symbol) ) effective at the close of business today. Accordingly, each outstanding share of Cybear Group common stock was converted into 0.00964 of a share of Andrx Group common stock which, pursuant to Andrx Corporation's Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. , was based upon the relative market value of the Andrx Group common stock and Cybear Group common stock averaged over the period from Feb. 22, 2002, through March 21, 2002, and includes a 25% premium of the value of the Cybear Group common stock. Andrx Group common stock is now the only outstanding common stock of Andrx Corporation, and continues to trade 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 ADRX. No fractional certificates will be issued in connection with the conversion. Stockholders who otherwise would be entitled to receive fractional shares will be paid cash for such fractional shares. The conversion will be transacted automatically for shareholders holding stock through a brokerage account Brokerage Account An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf. i.e., in "street name." However, registered holders of Cybear Group common stock will be required to submit their stock certificates representing shares of Cybear Group common stock to Andrx Corporation's transfer agent, American Stock Transfer and Trust Company (AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. ), in exchange for a new certificate representing shares of Andrx Group common stock. Registered holders of Cybear Group common stock will receive written notice of this requirement and further instructions from AST shortly. Andrx Corporation is a specialty pharmaceutical company engaged in the formulation and commercialization of oral controlled-release generic and brand pharmaceuticals utilizing its proprietary drug delivery technologies. Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the 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. provisions 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. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "expect," "plan," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative or other variations thereof or comparable terminology is intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. This release and additional information about Andrx Corporation are also available on the Internet at: http://www.andrx.com. |
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