The rights offering is official. Check out FreeEdgar.com for today's filing:
>>We are offering to sell up to 1,000,000 shares of our Series R Convertible
Preferred Stock to all persons who were owners of our common stock on July 14,
1999. This offering is not being underwritten. There is no minimum number of
shares that we must sell to complete the rights offering.
Each share of Series R Preferred Stock will automatically convert on February 1,
2000 into a number of shares of common stock equal to $15.00 divided by the
conversion price then in effect. The conversion price shall be equal to the
lesser of the following:
* $0.10, or
* the price that is equal to 10% of the average closing sales price of
our common stock for the 10 trading days ending three trading days prior
to February 1, 2000.
If you owned common stock on July 14, 1999, the record date for this offering,
you will receive, at no cost, a right to buy seven shares of Series R Preferred
Stock for each 22.11 shares of common stock that you owned on this record date.
The price of the Series R Preferred Stock is $15.00 per share. You may also
request to buy additional shares of Series R Preferred Stock at the same price.
Your subscription rights are not transferable and will not trade on any stock
exchange.
You may purchase shares beginning on the date of this prospectus and until
5:00 p.m. Eastern Daylight Savings Time on August 23, 1999. Shaman may extend
the offering in its sole discretion for a period of two weeks, until September
7, 1999. We reserve the right to cancel this offering at any time before the
expiration date. The subscription agent will promptly return to subscribers the
balance of any subscription funds that are not accepted due to
over-subscription.<<
Marc
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