Continental Announces Purchase of Warrants From Air Partners.HOUSTON--(BUSINESS WIRE)--Nov. 21, 1996--Continental Airlines (NYSE NYSE See: New York Stock Exchange : CAI (1) (Computer-Assisted Instruction) Same as CBT. (2) See CA. CAI - Computer-Aided Instruction .B and CAI.A) stated today that Air Partners, L.P. exercised its previously announced right to sell to Continental $50 million in intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. (current Class B common stock price minus exercise price) of warrants to purchase Class B common stock previously issued by Continental. As a result, Continental will purchase, for $50 million in cash, warrants to purchase 2,614,379 Class B shares at an exercise price of $7.50 per share. The transaction will close early next week. Air Partners continues to be the company's largest stockholder. CONTACT: Continental Airlines CORPORATE COMMUNICATIONS Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. , 713/834-5080 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion