CD Radio Files Offerings.WASHINGTON--(BUSINESS WIRE)--Sept. 2, 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 ) today filed registration statements with the Securities and Exchange Commission for the issuance of 3,500,000 shares of Common Stock and for the issuance of $150 million gross proceeds of Senior Discount Notes due 2007. In addition, the Company filed a registration statement for the issuance of 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". in exchange for the outstanding shares of its 5% Delayed Convertible delayed convertible A security with a conversion feature that does not come into effect until a specified date. Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Managing underwriters for the sale of the Common Stock are Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Lehman Brothers and Unterberg Harris. Managing underwriters for the sale of the Senior Discount Notes are Merrill Lynch and Lehman Brothers. Merrill Lynch is the dealer manager for the Exchange Offer. Registration statements relating to these securities have been filed with the Securities and Exchange Commission but have yet to become effective. These securities may not be sold nor may offers to buy or exchange be accepted prior to the time the applicable registration statement becomes effective. This press release shall not constitute an offer to sell or exchange or the solicitation of an offer to sell or exchange, nor shall there be any sale or exchange, of these securities in any state in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such state. CD Radio is the winning bidder for 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: CD Radio David Margolese, 202-296-6192 or www.cdradio.com |
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