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AIR METHODS INITIATES CALL OF FINAL 1992-1993 INSTITUTIONAL PRIVATE PLACEMENT COMMON STOCK PURCHASE WARRANTS

 DENVER, Aug. 25 /PRNewswire/ -- Air Methods Corp. (NASDAQ-NMS: AIRM), the nation's largest exclusive provider of air medical transport systems and services, today announced that it has recently initiated the call for redemption of the common stock purchase warrants issued in connection with the company's 1992-1993 institutionally led private placement, which closed in February of this year. Notice of this redemption, which will be completed on or before Sept. 8, 1993, has been transmitted to all participating private placement warrant holders.
 Each warrant entitles the holder thereof to purchase one-half share of registered common stock of the company at an exercise price of $4.00 per share of such common stock. These warrants are privately held and are not registered for public resale on any organized trading exchange. These warrants may be exercised up and until 5 p.m., Eastern Standard Time, Tuesday, Sept. 7, 1993, at which time they shall expire. If all of these warrants are exercised, approximately 1.2 million new shares of the company's common stock will be issued, generating nearly $4.8 million in working capital for the company. These proceeds will be used primarily to pay down a like amount of the company's long-term, aircraft-related debt. If all these warrants are exercised and after this warrant conversion has been completed, the company will have approximately 6.6 million common shares outstanding. Pursuant to the private placement warrant agreement, any warrants not otherwise exercised before Sept. 8, 1993, will be mandatorily redeemed by the company at a price of 10 cents per unexercised warrant as required under the terms of this private placement agreement.
 Air Methods Corp. is the largest exclusive provider of state-of-the- art emergency air medical transportation systems and services to hospitals throughout the United States. Air methods now serves 48 hospitals in 13 states under 20 dedicated long-term operating agreements. The company utilizes only IFR-certified pilots and aircraft, including 30 helicopters and four airplanes, to perform these services. In addition, Air Methods offers completely integrated airborne medical systems for administering intensive care to patients while flying to a trauma center or a tertiary care facility, either from outlying hospitals or the scene of an accident.
 -0- 8/25/93
 /CONTACT: W. Terrance Schreier, chairman and CEO, or William H. Critchfield, executive VP and CFO, of Air Methods, 303-790-0587/
 (AIRM)


CO: Air Methods Corp. ST: Colorado IN: AIR HEA SU:

LS-JL -- LA012 -- 5689 08/25/93 08:05 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
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