AirScooter and Bettie Page Clothing Enter Into Merger Agreement
Corporate Name to Change to Tatyana Designs, Inc.
LAS VEGAS, Jul 17, 2012 (GlobeNewswire via COMTEX) -- On July 13, 2012,
AirScooter Corporation (the "Company") (ASCO) entered into a Merger Agreement
with Las Vegas-based Design Technology Holding, LLC ("DTH") doing business
through its wholly-owned subsidiaries as Bettie Page Clothing ("BPC"). BPC is a
specialty retailer with eight boutiques in four states, an active e-commerce
business Click for Detail and a wholesale division selling to
independent boutiques in the United States and 27 other countries.
The contemplated merger will take the form of a "reverse merger" in which DTH
Subsidiary, LLC, a Nevada limited liability company that is a wholly-owned
subsidiary of the Company, will be merged into DTH, which will then be a
wholly-owned subsidiary of the Company. The current owners of DTH will receive
shares of common stock of the Company and will then own approximately 84% of the
outstanding capital stock of the Company. The Merger is intended to qualify as a
non-taxable contribution of DTH's assets and liabilities to the Company in
exchange for stock.
Completion of the Merger is subject to the satisfaction of certain conditions
including approval of the Company's stockholders at a Special Meeting scheduled
for August 7, 2012. The Merger shall become effective at the time that DTH and
the Company's subsidiary file Articles of Merger with the Secretary of State of
the State of Nevada and other regulatory matters are completed.
If and when the Merger with DTH is completed, of which there can be no assurance,
the Company will be renamed Tatyana Designs, Inc. and trade post 1 for 15 reverse
stock split under a new stock symbol not yet designated.
A copy of the Merger Agreement will be included in the Proxy Statement for the
Special Meeting of the Company's stockholders expected to be mailed on or about
July 18, 2012 to stockholders of record as of June 29, 2012. The Proxy Statement
will also be posted online at the time of mailing at
transferonline.com.
About AirScooter Corporation: AirScooter is a public company with its shares of
common stock trading in the OTC market and quoted on the OTC Link trading system
under the symbol ASCO.
The AirScooter Corporation logo is available at
globenewswire.com
About Bettie Page Clothing: Based in Las Vegas, Nevada, Bettie Page Clothing is a
growing retailer specializing in contemporary designs inspired by the 50's and
the iconic Bettie Page. The merchandise is a diverse mix of high-quality and
attractively priced apparel, jewelry, accessories and gifts. Bettie Page
collections target the 18-35 year-old, fashion conscious, female customer, but
women of all ages are attracted to the unique retro look. New product styles are
presented monthly. For more information on the company please visit the Web site
at bettiepageclothing.com.
Trademark Information: Bettie Page is a trademark registered to Mark A. Roesler,
dba Bettie Page LLC |
