*AV*--[ACTC/ABTE] - for those that follow these stocks (they are not on my personal radar but they are in my "universe" because it is of interest to some.
Applied Cellular (ACTC), 5-3/32, has filed an ever-popular 424B3 relating to the "proposed sale from time to time of up to 10,516,927 shares," as previously announced. The document details the possible sellers and the amount of shares each party is able to sell if they choose to do so. The shares, which "have been or will be issued by the Company from time to time," were issued primarily in exchange for services and to facilitate acquisitions. As of November 11, 1997, ACTC had 18,365,211 shares of Common Stock outstanding.
12/12 UPDATE: ACTC has terminated negotiations related
to its unsolicited takeover offer for Able Telcom Holding Corp. It also
said it is on track to meet its 1997 estimates of $100M in sales and
earnings of .30cps. ACTC indicated that its policy is to acquire profitable niche companies that would boost its earnings and offer an array of complementary wireless products, technology and services to the telecommunications industry. The company stipulated that it won't complete any transaction that would dilute its earnings. 12/15 UPDATE: ABTE claims that there were no negotiations were held with ACTC. ABTE said it intends to bring the "irresponsible statements of Applied Cellular" to the attention of market officials for further action. Able Telcom is concerned about misconceptions in the marketplace regarding the Company and the unsolicited offer from Applied Cellular. CEO Gerry Hall said: "We believe it is necessary to address certain misleading information contained in yesterday's press release of Applied Cellular Technology Inc and in the cable news media."
Andrew |
