The warrants are being taken out at $.50. They closed at $.45 today, after opening the week at $.09. I missed the proposal.
Alternative Asset Management Acquisition Corp. Announces Approval of Amendment to Warrant Agreement and Adjourns Special Meeting of Stockholders
Press Release
Source: Alternative Asset Management Acquisition Corp.
On Thursday July 30, 2009, 12:50 pm EDT
NEW YORK, July 30 /PRNewswire-FirstCall/ -- Alternative Asset Management Acquisition Corp. ("AAMAC") (NYSE Amex: AMV) today announced that at its Special Meeting of Warrantholders, warrantholders approved the proposed amendment to the warrant agreement governing its outstanding warrants exercisable for shares of AAMAC common stock. Approval of the amendment is a condition to the proposed acquisition (the "Acquisition") by AAMAC of Great American Group, LLC ("Great American") which will be considered and voted upon by AAMAC stockholders at the Special Meeting of AAMAC Stockholders, which was convened today and immediately adjourned to 10:00 a.m. Eastern Time on Friday, July 31, 2009.
The amendment to the warrant agreement approved today requires the redemption of all of the outstanding warrants, including those held by AAMAC's sponsors, at a price of $0.50 per warrant at any time on or prior to the 90th day following the closing of the proposed Acquisition. It also delays the commencement of the exercisability of the warrants from immediately following the proposed Acquisition to the 91st( )day following the consummation of the proposed Acquisition and precludes any adjustment of the warrants as a result of the proposed Acquisition.
Additional information regarding AAMAC, its proposed acquisition of Great American and the related transactions is available in the Definitive Proxy Statement/Prospectus and AAMAC's Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on July 28, 2009 (the "Current Report"), copies of which, together with other filings of AAMAC, may be obtained without charge, at the SEC's website at sec.gov.
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