Big City Bagels Extends Period to Exercise Outstanding Warrants at Reduced Price.HICKSVILLE, N.Y.--(BUSINESS WIRE)--Aug. 26, 1997--Big City Bagels 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 : BIGC BIGC Beijing Institute of Graphic Communication (China) ) announced today that it had extended the Special Exercise Period during which the company's Class A Redeemable Common Stock Purchase Warrants (Nasdaq: BIGCW) and its Class B Common Stock Purchase Warrants (which do not trade on Nasdaq) could be exercised at a reduced price for an additional thirty days. The special Exercise Period will now expire at 5:00 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 Oct. 8, 1997, rather than Sept. 8, 1997. During the Special Exercise Period, each Class A Warrant is exercisable at a price of $2.50 per share and each exercising warrant holder will be issued an additional Class A Warrant following expiration of the Special Exercise Period. During the Special Exercise Period, each Class B Warrant is exercisable at a price of $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. In addition, each exercising warrant holder will be issued an additional Class A Warrant following expiration of the Special Exercise Period. Following the expiration of the Special Exercise Period, the exercise price of the Class A Warrants not exercised and the new Class A Warrants to be issued to exercising warrant holders will be $4.50 per share unless the company receives at least $2,000,000 of gross proceeds from exercise of the Class A Warrants during the Special Exercise Period. If at least $2,000,000 of gross proceeds is received, the exercise price will be $2.50 per share. Following the expiration of the Special Exercise Period, the exercise provisions of the Class B Warrants will return to the original terms thereof, 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 the securities has been filed with the Securities and Exchange Commission and has been declared effective. 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 , 800 Second Avenue, 5th Floor, 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 , NY 10017. The communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the 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. -0- This release is available on the KCSA Worldwide website at www.kcsa.com CONTACT: Big City Bagels Inc., Hicksville Mark Weinreb, 516/932-5050 or KCSA, New York Adam I. Friedman/Jeff Corbin 212/682-6300, ext 215/214 |
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