Lightpath Technologies: LPTH New WDM player Message Board

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Technology Stocks : Lightpath Technologies: LPTH New WDM player

LPTH 11.30

+0.4%

3:59 PM EST

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To: campe who wrote (42)	6/6/1997 5:30:00 AM
From: craig crawford	of 1219

Now the warrants... ---------------------------------------------------------------------- Warrants Each Class A warrant entitles the holder to purchase one share of Class A common stock and one Class B warrant at an exercise price of $6.50 until February 22, 2001. Commencing one year from the offering, the Class A warrants are redeemable by the Company on 30 day's written notice at a redemption price of $.05 per warrant if the closing price of the Class A common stock for any 30 consecutive trading days ending within 15 days of the notice averages in excess of $9.10 per share. Each Class B warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $8.75 until February 22, 2001. Commencing one year from the offering, the Class B warrants are redeemable by the Company on 30 day's written notice at a redemption price of $.05 per warrant if the closing price of the Class A common stock for any 30 consecutive trading days ending within 15 days of the notice averages in excess of $12.25 per share. All Class B warrants must be redeemed if any are redeemed. All of the Class A warrants, the Class A common stock and Class B warrants issuable upon exercise of such Class A warrants and the Class A common stock issuable upon exercise of the Class B warrants were registered and tradeable subject to a contractual restriction that such Class A warrants and underlying securities may not be sold for a period of between 90 and 270 days after the effective date of the IPO. Original securityholders have also agreed not to exercise their warrants for a period of one year following the effective date of the IPO; provided, however, that subsequent purchasers of the warrants are not subject to such restrictions on exercise.

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