Capitol Multimedia announces extension of Series A Warrants.CONCORD, Mass.--(BUSINESS WIRE)--March 3, 1997--Capitol Multimedia 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 :CDIM CDIM Clerkship Directors in Internal Medicine CDIM Context-Driven Information Model CDIM Change Delivery & Implementation Manager CDIM Conditioned Di-Phase Modem , CDIMW, or the "Company") a creator of CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). based software, today announced that the company's board of directors has extended its Series A Warrant expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist.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. for one year to March 31, 1998. The company currently has 344,500 Series A Warrants outstanding. Each Warrant entitles the holder thereof to purchase 1.09 shares of common stock at an exercise price of $5.72 per share through March 31, 1997. The Warrants are redeemable by the company on an all or nothing basis at a redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of $0.01 per Warrant, upon 30 days written notice, provided, however, that holders may exercise Warrants at any time prior to the expiration of the 30-day redemption notice period. In the event that all of the Warrants are exercised, the Company will receive proceeds of approximately $2,150,000. The company currently plans to use any proceeds received upon exercise of the Warrants to fund working capital requirements and finance the development of software products. Capitol Multimedia Inc. is a leading developer and publisher of CD-ROM software. The company currently employs approximately 120 people with offices in Concord, Mass.; and St. Petersburg, Russia. CONTACT: Capitol Multimedia Inc. Edward Terino, 508/287-5888, ext. 113 ed@capitol.com |
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