JMAR Industries Files With Securities and Exchange Commisssion to Amend and Extend Warrants.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--April 3, 1998--JMAR Industries Inc. (Nasdaq/NM:JMAR JMAR Joint Medical Asset Repository ) Friday announced that it has filed a Preliminary Consent Solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with Statement with the Securities and Exchange Commission pursuant to which the company will seek the consent of the holders of its publicly traded redeemable common stock purchase warrants (Nasdaq/NM:JMARW) (the "Warrants") to the following amendments to the Warrants: (i) an extension of the term of the Warrants to May 15, 2000, (ii) an increase in the exercise price from $4.68 per share to $5.50 per share, and (iii) an adjustment to the existing redemption provision to provide that the company may redeem the Warrants if the average closing price of the company's common stock is $7 or more over a period of 10 consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. . Following the company's compliance with the timing and filing requirements of the applicable SEC consent (proxy) solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual rules, the company expects to solicit the consent of the registered Warrant holders to the proposed amendments through the mailing of a definitive Consent Solicitation Statement to each registered holder in mid-April. In an earlier release, the company had extended the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist.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. of the Warrants to April 20, 1998. In order to provide the holders of Warrants with a reasonable opportunity to review the consent solicitation materials and to make their decision, however, Warrant holders will have until May 15, 1998, to return their response to the Consent Solicitation. The company has determined that the failure to receive a Consent from a registered Warrant holder by May 15, 1998, will result in the Warrants owned by such holder expiring on that date. The solicitation of the consent of the Warrant holders may only be made through the delivery to registered Warrant holders of a definitive Consent Solicitation Statement. This news release should not be considered for any purpose as the solicitation of consents of the Warrant holders, and Warrant holders should make their decision on the proposed amendments solely upon the information contained in the definitive Consent Solicitation Statement which will be mailed to them following compliance with the SEC's timing and filing requirements. In February 1993, the company issued a total of 2,705,882 Units consisting of one share of common stock and one Warrant in a registered public offering. The Warrants, which trade on the Nasdaq National Market tier under the symbol JMARW, allow the holder to purchase one share of JMAR common stock for a price of $4.68 and were originally scheduled to expire on Feb. 17, 1998. JMAR Industries develops, manufactures and markets precision measurement, process control and manufacturing systems and laser and semiconductor products for the microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. and medical industries and is a leading developer of advanced lithography lithography (lĭthŏg`rəfē), type of planographic or surface printing. It is distinguished from letterpress (relief) printing and from intaglio printing (in which the design is cut or etched into the plate). sources for production of higher performance semiconductors. CONTACT: JMAR Industries Inc., San Diego Dennis E. Valentine Valentine a true friend and constant lover. [Br. Lit.: Two Gentlemen of Verona] See : Faithfulness , 619/535-1706 http://www.jmar.com or Silverman Heller Associates Eugene Heller/Glenn Schoenfeld, 310/208-2550 |
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