Atlantic Express Transportation Corp. Announces Receipt of Consent of Note Holders.Business Editors STATEN ISLAND Staten Island (1990 pop. 378,977), 59 sq mi (160 sq km), SE N.Y., in New York Bay, SW of Manhattan, forming Richmond co. of New York state and the borough of Staten Island of New York City. , N.Y.--(BUSINESS WIRE)--Dec. 18, 2000 Atlantic Express Atlantic Express may refer to:
A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with Statement dated Nov. 23, 2000, and the related Consent and Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. . In accordance with the terms of the Consent Solicitation, (1) the solicitation of consents has terminated as of 5 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on Dec. 18, 2000, (2) consents may no longer be revoked and (3) holders who have not duly delivered their consents will not be entitled to receive the Consent Payment as defined in the Offer to Purchase and Consent Solicitation Statement. Although the Consent Solicitation has now been completed, the Company's offer to purchase up to $30,000,000 aggregate principal amount of its outstanding 10 3/4% Senior Secured Notes due 2004 remains open in accordance with its original terms. The offer to purchase and withdrawal rights will expire at 5 p.m. New York City time on Dec. 21, 2000, unless extended by the Company. The offer, the payment of the purchase price for the Notes, the Consent Solicitation and the payment of the consent fee remain subject to all of the terms and conditions contained in the Offer to Purchase and Consent Solicitation Statement and the related Consent and Letter of Transmittal, including the contribution by the Company's parent of all of the outstanding stock of Atlantic Transit, Corp., an additional equity contribution of $10 million from the Company's parent and replacement of the Company's existing $30 million revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility with a proposed new $125 million revolving credit facility. Copies of the Offer to Purchase and Consent Solicitation Statement and related materials are available from The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , as depositary for the offer and solicitation, by telephone at 212/815-3750 or by facsimile at 212/815-6339. This announcement does not constitute an offer to purchase, or the solicitation of offers to sell, any securities. The offer is only being made through the Company's Offer to Purchase and Consent Solicitation and related materials. The Company is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Atlantic Express Transportation Group Inc., the LARGEST AMERICAN-OWNED, AMERICAN-BASED SCHOOL BUS COMPANY, operating approximately 6,500 vehicles from coast to coast with revenues in excess of $400 million for the fiscal year ended June 30, 2000. Atlantic Express is also one of the nation's largest providers of paratransit service, provides express commuter line, charter and tour bus services, provides transportation for pre-kindergarten and Medicaid recipients and sells school buses and commercial vehicles in New Jersey and various counties in New York There are sixty-two counties in the State of New York. Five of these are boroughs of New York City and do not have functioning county governments. New York City encompasses five counties, and is the county seat of all five of them: New York County (Manhattan), Kings County (Brooklyn), . |
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