Does anybody have an opinion on the recent news that...
COUDERSPORT, Penn., Feb. 14 /PRNewswire/ -- Adelphia Business Solutions, Inc. ("the Company") (Nasdaq: ABIZ) announced today that it will make a rights offering to the record holders of its outstanding Class A and Class B Common Stock as of the close of business on February 19, 2001, which is the record date. The rights offering will involve the offer of approximately 53,772,548 shares of newly issued Class A Common Stock and approximately 52,715,788 shares of newly issued Class B Common Stock. Under the rights offering, the Company will distribute, at no cost to its stockholders, 1.5 non-transferable subscription rights for each share of common stock held by holders of its Class A and Class B Common Stock on the record date. Each whole right will entitle holders of Class A Common Stock or Class B Common Stock, respectively, to purchase one share of the same class of common stock at a subscription price of 7.28 per share. The rights offering will expire on March 19, 2001, the expiration date. No fractional rights will be issued. |
