Printer Friendly

HEARx TO REDUCE CONVERSION PRICE OF WARRANTS

 HEARx TO REDUCE CONVERSION PRICE OF WARRANTS
 WEST PALM BEACH, Fla., June 30 /PRNewswire/ -- The board of


directors of HEARx Ltd. (OTC Bulletin Board: EARS) has authorized the company to file a post-effective amendment which would reduce the exercise price of the company's warrants to purchase 1,650,000 shares of the company's common stock, HEARx announced today.
 The warrants were part of the 330,000 units sold in the company's public offering in 1988. The warrants, which are scheduled to expire in February 1993, currently have an exercise price of $2.00. It is the company's plan, following the effective date of the amendment, to reduce the exercise price of the warrants and call the warrants. The company plans to use the proceeds from the exercise of the warrants to open additional hearing care centers, primarily in the state of Florida.
 HEARx Ltd., the nation's largest network of independent auditory vestibular rehabilitative centers, has comprehensive state-of-the-art facilities offering a full range of diagnostics and rehabilitative services, and currently operates 30 locations in New York, Florida, Georgia and Oregon. HEARx currently has strategic alliances with Humana Health Care Plans, Aetna Health Care Plans of New York, AARP Pharmacy Services and Minnesota Mining and Manufacturing (3M).
 -0- 6/30/92
 /CONTACT: Paul A. Brown, chairman of HEARx, 407-478-8770/
 (EARS) CO: HEARx Ltd. ST: Florida IN: HEA SU:


GK-TQ -- NY013 -- 5015 06/30/92 08:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 30, 1992
Words:235
Previous Article:THE M/A/R/C GROUP EXPECTS DECLINE IN SECOND QUARTER RESULTS
Next Article:ATRIA COMPLETES SECOND ROUND OF VENTURE FUNDING; COMPANY POISED TO MEET GROWING MARKET DEMAND
Topics:


Related Articles
3M MAKES EQUITY INVESTMENT IN HEARx
HEARx TO PROVIDE HEARING CARE SERVICES TO AARP MEMBERS
HEARx REPORTS SECOND QUARTER AND SIX MONTHS RESULTS
HEARX TO MAKE ACQUISITIONS ON FLORIDA WEST COAST
HEARx TO REDUCE EXERCISE PRICE OF PUBLICLY TRADED WARRANTS
HEARx ACQUIRES TWO HEARING CARE CENTERS IN MYRTLE BEACH, S.C., AND INTENDS TO MAKE AN OFFER TO PRIVATE WARRANT HOLDERS
HEARx Outlines Expansion Program.
HEARx to Reduce Annual Cost Structure by $6 Million.
HEARx Reports First-Quarter Results.
HEARx Exchanges Series I Convertible Preferred Stock; Eliminates Preferred Series.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters