Big City Bagels intends to reduce exercise price of outstanding warrants.HICKSVILLE, N.Y.--(BUSINESS WIRE)--June 16, 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 filed a registration statement with the Securities and Exchange Commission to register securities in connection with an intended reduction in the exercise price of the company's outstanding Class A Redeemable Common Stock Purchase Warrants (NASDAQ:BIGCW) and its outstanding Class B Common Stock Purchase Warrants. The Class A Warrants are presently exercisable at $4.50 per share. After the registration statement has been declared effective by the Securities and Exchange Commission, the company will reduce the exercise price of the Class A Warrants to $2.50 per share for a period of 90 days, 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 EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the special exercise period, the holder thereof 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 will return to the original $4.50 exercise price after the special exercise period. The company also intends to reduce the exercise price of its outstanding 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 en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: 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 relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual 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. CONTACT: Big City Bagels, Hicksville Mark Weinreb, 516/932-5050 or 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 , 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 Adam I. Friedman/Jeff Corbin, 212/682-6300 x 215/214 |
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