Del Global Technologies Corp. Registration Statement Declared Effective.FRANKLIN PARK Franklin Park, village (1990 pop. 18,485), Cook co., NE Ill., a suburb of Chicago; inc. 1892. It is chiefly residential. , Ill. -- Del Global Technologies Corp. (DGTC) ("Del Global" or the "Company") today announced that the Registration Statement for its previously announced common stock Rights Offering was declared effective on January 30, 2007 by the Securities and Exchange Commission (the "SEC"). Under the terms of the Rights Offering described in the prospectus contained in the Registration Statement, the Company will distribute non-transferable subscription rights to purchase up to an aggregate of 11,660,524 shares of the Company's common stock, par value $0.10 per share (the "Common Stock"), to persons who own shares of the Common Stock as of the close of business on February 5, 2007, the Record Date for the Rights Offering. Each holder of record as of the close of business on the Record Date will receive one subscription right for each share of the Common Stock owned at the close of business on the Record Date. Each subscription right entitles the holder to purchase one share of common stock at a purchase price of $1.05 per share, which is the basic subscription privilege Subscription privilege The right of current shareholders of a corporation to buy newly issued shares before they are available to the public. subscription privilege See preemptive right. . The Company's stockholders who exercise their basic subscription privilege in full will also be entitled to purchase additional shares pursuant to an over-subscription privilege to the extent there are shares that have not been subscribed for by other holders pursuant to their basic subscription privileges. The Company reserves the right to limit the exercise of rights by certain stockholders so as to not jeopardize or endanger the availability of the Company's net operating loss carryforwards Net operating loss carryforwards Application of losses to offset earnings in future years. under Section 382 of the Internal Revenue Code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. . The Company expects to mail as soon as practicable a prospectus and other items necessary for exercising the rights to holders of the Common Stock as of the close of business on the Record Date. The prospectus will contain a description of the Rights Offering and other information. Questions from stockholders regarding the Rights Offering or requests for additional copies of the prospectus or other offering materials may be directed to the subscription and information agent for the Rights Offering, Mellon Investor Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , at (800) 522-6645. The subscription rights will be exercisable until 5:00 p.m. Eastern time, on February 28, 2007, 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. for the Rights Offering, unless the Company extends the Rights Offering. The Company reserves the right to amend, modify, or terminate the Rights Offering at any time prior to the Expiration Date, for any reason. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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. Statements in this release that express a belief, expectation or intention, as well as those which are not historical fact, are forward looking. They involve a number of risks and uncertainties, which may cause actual results to differ materially from such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . For more information about these risks and uncertainties, please refer to the Registration Statement, which is available in the Company's January 26, 2007 filing on Form S-3/A, the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended July 29, 2006, and other filings with the SEC (many of which are available on the SEC's web site at www.sec.gov). ABOUT DEL GLOBAL TECHNOLOGIES Del Global Technologies Corp. is primarily engaged in the design, manufacture and marketing of high performance diagnostic imaging systems for medical, dental and veterinary applications through the Del Medical Systems Group. Through its U.S. based Del Medical Imaging Corp. and Milan, Italy based Villa Sistemi Medicali S.p.A. subsidiaries the Company offers a broad portfolio of general radiographic radiographic (rā´dēōgraf´ik), adj relating to the process of radiography, the finished product, or its use. , radiographic/fluoroscopic, portable x-ray and digital radiographic systems to the global marketplace. Through its RFI (Radio Frequency Interference) High-frequency electromagnetic waves that emanate from electronic devices such as chips. RFI - Radio Frequency Interference subsidiary, Del Global manufactures proprietary high-voltage power conversion subsystems including electronic filters, high voltage The term high voltage characterizes electrical circuits, in which the voltage used is the cause of particular safety concerns and insulation requirements. High voltage is used in electrical power distribution, in cathode ray tubes, to generate X-rays and particle beams, to capacitors, pulse modulators, transformers and reactors, and a variety of other products designed for industrial, medical, military and other commercial applications. The company's web site is www.delglobal.com. |
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