ACRODYNE HOLDINGS, INC. ANNOUNCES SEPARATION OF UNITS.
The offering of 1,495,000 Units (consisting of one share of Common Stock and one Redeemable Common Stock Purchase Warrant), inclusive of the exercise of the over-allotment of 195,000 Units, was managed by GKN Securities and was completed on October 14, 1994.
Each Warrant entitles the holder to purchase one share of Common Stock for $3.50 during the four-year period commencing one year after the date of the offering. The Company may redeem the Warrants at a price of $0.01 per Warrant at any time after they become exercisable upon not less than 30 days prior written notice if the last sale price of the Common Stock has been at least $6.00 per share for the 20 consecutive trading days ending on the third day prior to the date on which the notice of redemption is given. -0- Acrodyne Industries, Inc., an operating subsidiary of Acrodyne Holdings, Inc., is an established and respected manufacturer of television broadcast equipment. In business over 20 years, the Company has developed the leading position as a technologically advanced, high quality low cost producer of transmitters and translators used by television stations to broadcast and retransmit over-the-air signals.
CONTACT: or Stephen D. Axelrod
A. Robert Mancuso, Mona J. Walsh
ACRODYNE HOLDINGS, INC. WOLFE AXELROD ASSOCIATES
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|Date:||Feb 10, 1995|
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