BIG CITY BAGELS reduces exercise price of outstanding warrants.HICKSVILLE, N.Y.--(BUSINESS WIRE)--July 10, 1997--BIG CITY BAGELS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (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 : BIGC BIGC Beijing Institute of Graphic Communication (China) ) announced today that, effective July 11, 1997, the Company will reduce the exercise price of the Company's Class A Redeemable Common Stock Purchase Warrants (Nasdaq: BIGCW) and its Class B Common Stock Purchase Warrants. The Class A Warrants are presently exercisable at $4.50 per share. The Company will reduce the exercise price of the Class A Warrants to $2.50 per share for a period of 60 days, until September Until September is a 1984 romantic drama set in France. It stars Karen Allen as an American tourist in Paris who falls in love with a married Frenchman (Thierry Lhermitte). External links 8, 1997, subject to the discretion of the Company to extend this special exercise period for up to an additional 30 days. If the Class A Warrants are exercised prior to the expiration of the special exercise period, the holder thereof also will be issued a new Class A Warrant at the end of the special exercise period. If an aggregate of at least $2,000,000 of gross proceeds are derived from the exercise of the Class A Warrants during this special exercise period, the exercise price of the Class A Warrants which are not exercised and the new Class A Warrants will remain at $2.50 per share until their expiration on May 6, 2000. If at least $2,000,000 of gross proceeds are not derived from the exercise of the Class A Warrants during this special exercise period, then the exercise price of the Class A Warrants and the new Class A Warrants will be $4.50 after the special exercise period. During the special exercise period, the Company also will reduce the exercise price of its Class B Warrants (which are not traded on Nasdaq) to $2.50 per share and the Company will not require two Class B Warrants to be exercised in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem to receive one share of Common Stock. Accordingly, if exercised during this special exercise period, each Class B Warrant will entitle the holder to purchase one share of Common Stock for $2.50 per share and, if so exercised, the holder will receive a new Class A Warrant after the special exercise period. After the special exercise period, the exercise price of the Class B Warrant will return to the original terms, which require two Class B Warrants to be exercised in tandem with an aggregate exercise price of $8.00 per share of Common Stock. A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. A prospectus will be mailed to current warrant holders shortly. Additional copies of the prospectus may be obtained by contacting the Company's investor relations Investor relations The process by which the corporation communicates with its investors. firm, KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , 820 Second Avenue, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10017. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. This release is available on the KCSA Public Relations website at www.kcsa.com. CONTACT: BIG CITY BAGELS, INC. Mark Weinreb, Chief Executive Officer 516/932-5050 or KCSA Adam I. Friedman/Jeff Corbin CONTACT: 212/682-6300, ext 215/214 |
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