Alan,
I have to apologize. I never did get around to taking another detailed look at the EHHA-XLNT transaction. EHHA appears to be having some difficulty closing on the transaction. They have ajourned their shareholder meeting until December 21. The common stock and warrants are trading this afternoon at $7.60 and $.87, respectively. The exercise price on the warrants is $6.00 per share. It will be interesting to see if the management of EHHA needs to make some adjustments to get the deal done. Remember that that some of the executives of EHHA are also executives of XLNT. The concessions could come from the XLNT side.
Regards,
Glenn
Echo Healthcare Reschedules Stockholder Vote on Proposed Merger With XLNT Veterinary Care to December 21, 2007
Wednesday December 12, 1:29 pm ET
VIENNA, Va., Dec. 12 /PRNewswire-FirstCall/ -- Echo Healthcare Acquisition Corp. ("Echo" or the "Company") (OTC Bulletin Board: EHHA - News), a blank check company, today announced that it convened and then adjourned without conducting any business its special meeting of stockholders to vote on the proposed merger transaction with XLNT Veterinary Care, Inc. ("XLNT") and the related matters set forth in the proxy statement/prospectus previously mailed to Echo stockholders. The special meeting will reconvene on Friday, December 21, 2007 at 10:00 a.m., Eastern Time at the offices of McDermott Will & Emery LLP, 340 Madison Avenue, New York, New York 10173.
The vote has been rescheduled in order to provide Echo stockholders additional time to consider and vote on the proposed merger and related proposals.
The record date for stockholders entitled to vote at the special meeting remains the close of business on November 7, 2007.
A definitive proxy statement/prospectus relating to the special meeting was filed with the. Securities and Exchange Commission on November 13, 2007 and a subsequent supplement to that proxy statement/prospectus was filed with the U.S. Securities and Exchange Commission on November 27, 2007. The supplement and the entire proxy statement/prospectus are also available at the Company's website at echohealthcare.com and as filed at sec.gov.
The Board of Directors of Echo unanimously recommends that stockholders vote "for" each of the proposals related to the proposed merger transaction. Additional information about the proposed merger and each of the other proposals can be found in the definitive proxy statement/prospectus and supplement.
Echo stockholders with questions about the proposed merger or any of the other proposals or who need assistance in voting their shares should contact Thomas P. Skulski of Morrow & Co., the Company's proxy solicitor, at (203) 658-9400. Echo stockholders seeking to exercise their conversion rights must complete the procedures set forth in the supplement dated November 26, 2007 before 5:00 p.m., New York City time on December 20, 2007. Similarly, stockholders seeking to withdraw shares previously submitted for conversion should ensure that their bank or broker makes arrangements with Corporate Stock Transfer, Inc. to withdraw their shares by 5:00 p.m., New York City Time on December 20, 2007. If you have previously sent in a proxy card, you do not need to send another card unless you desire to change your vote.
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