Doug,
Still hangin' with AMVC. There was a post a while back asking if the warrants had expired. News yesterday:
Advanced Machine Vision Corporation Announces Expiration of Warrants to Purchase 11.4 Million Shares
MEDFORD, Ore.--(BUSINESS WIRE)--March 10, 1998--Advanced Machine
Vision Corporation (Nasdaq:AMVC) announced today the expiration of its
Class A, B and C warrants to purchase approximately 11.4 million
shares of AMV common stock. The warrants were originally issued in
connection with the Company's 1992 initial public offering or pre-IPO
financings.
William J. Young, the Company's Chairman, President and Chief
Executive Officer, stated: "The elimination of the three classes of
warrants represents a major step in simplifying AMV's capital
structure by lowering the number of potentially issuable shares from
exercise of warrants or conversion of debt."
According to Mr. Young, in the last 12 months, the Company has
reduced the number of outstanding and potentially issuable shares by
53%, from 33.1 million to 15.7 million, through stock, warrant and
debt buybacks and expirations. Mr. Young also stated that another
275,000 Class D warrants are scheduled to expire in June and July of
1998. In the event that the Class D Warrants expire, the Company's
remaining potentially issuable shares pursuant to warrants and
convertible debt will consist of 3.8 million shares related to AMV's
Ventek acquisition, .4 million for other convertible debt and .6
million for other warrants.
Are your still watching AMVC?
Mike |
