CD Radio Extends Exchange Offer.WASHINGTON, D.C.--(BUSINESS WIRE)--November 17, 1997--CD Radio Inc. (Nasdaq:CDRD CDRD Centre for Drug Research and Development (Vancouver BC, Canada) CDRD Cutaneous Drug Reaction Database CDRD Contract Data Requirements Document ) announced today that it has extended the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of its offer to exchange its new 10 1/2% Series C convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". for up to all of the outstanding shares of its 5% delayed convertible preferred stock to midnight on Monday, November 17, 1997. As of Friday, November 14, 1997, the Company had received tenders to exchange 4,984,088 shares of its 5% delayed convertible preferred stock, representing more than 95% of such stock. CD Radio holds one of two FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. national satellite radio broadcast licenses. The Company is building a satellite-to-car 50 channel radio system for the broadcast of music and other programming to motorists throughout the United States. CONTACT: For further information: www.cdradio.com or David Margolese, 202-296-6192 |
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