Excel Technology redeeming Class B warrants.NEW YORK--(BUSINESS WIRE)--Jan. 22, 1997--Excel Technology 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 :XLTC) announced that it is exercising its right to redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. all Class B warrants (XLTCW). Each warrant entitles the holder to purchase one share of common stock of the company at $8 per share. The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. of the warrants will be Feb. 21, 1997. Any warrants which have not been exercised prior to the redemption date will no longer be exercisable to purchase common stock and will represent solely the right to receive payment of the 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 5 cents for each warrant. Excel and its wholly-owned subsidiaries develop, manufacture and market laser systems and electro-optical components for electronic, semiconductor, other industrial, scientific and dental applications. CONTACT: J. Donald Hill 212/355-3400 |
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