RSTRC looks like you get $1.58 cash plus some shares;
SAN RAMON, Calif. & PETAH TIKVA, Israel, Jul 19, 2002 (BUSINESS WIRE) -- rStar
Corporation (Nasdaq: RSTR) and Gilat Satellite Networks Ltd. (Nasdaq: GILTF), a
worldwide leader in satellite networking technology, announced today in
connection with the exchange offer for up to 6,315,789 shares of rStar common
stock that the average closing market price for the Gilat ordinary shares over
the 10-day trading period from July 5, 2002 to July 18, 2002 is $0.93.
Accordingly, based upon the formula in the Offer to Exchange dated June 25,
2002, the final value of the cash consideration that will be offered in exchange
for each share of rStar common stock is $1.58. Note that the final value of the
cash consideration is subject to change if rStar and Gilat are required to
extend the expiration date for the exchange offer because certain conditions to
the exchange offer, as described in the Offer to Exchange, have not been
satisfied or, where permissible, waived.
In addition, rStar stockholders will receive 0.0738 of a Gilat ordinary share
for each share of rStar common stock that they validly tender in the exchange
offer. Based upon the last reported closing price for the Gilat ordinary shares
on the Nasdaq National Market on July 18, 2002, this fraction of a Gilat
ordinary share has a value of approximately $0.06. rStar stockholders are urged
to obtain current market quotations for Gilat ordinary shares, as well as their
shares of rStar common stock.
This press release is for informational purposes only and is not an offer to buy
or the solicitation of an offer to sell any shares of rStar's common stock. The
solicitation of offers to buy rStar's common stock will only be made pursuant to
the Offer to Exchange and related materials that rStar and Gilat mails to
rStar's stockholders. rStar stockholders should read those materials carefully
because they contain important information, including the various terms and
conditions to the exchange offer. |
