I thought that Kapstone might extend the expiration date of their warrants. No such luck.
Broker Protection Period for KapStone Paper and Packaging Corporation's Warrants
Press Release
Source: KapStone Paper and Packaging Corporation
On Tuesday August 4, 2009, 11:57 am EDT
NORTHBROOK, Ill., Aug. 4 /PRNewswire-FirstCall/ -- KapStone Paper and Packaging Corporation (Nasdaq: KPPC - News) confirmed today that it will provide a three day broker protection period in connection with its warrants trading under the ticker symbol "KPPCW" on the NASDAQ exchange.
Warrant holders have until 4:00 PM ET on Monday, August 17, 2009 to execute their warrants, and the warrant holders' brokers have until 4:00 PM ET on Thursday, August 20, 2009, to complete the transaction with the transfer agent, American Stock Transfer.
The Company had previously announced that the expiration date for its approximately 37 million outstanding warrants, dated as of August 19, 2005, has been extended through Monday, August 17, 2009. The original expiration date was set for Saturday, August 15, 2009. Each warrant entitles the holder to exchange one warrant plus $5 for one share of Kapstone Paper and Packaging Corporation common stock.
Among the warrants expiring on August 17, 2009, are those warrants comprising a part of the units of the Company trading on the Over-the Counter Bulletin Board under the symbol "KPPCU.OB." Each unit consists of one share of common stock of the Company and two warrants.
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