Charly,
What would you see as the likely affect on price of this:
International FiberCom Inc. Announces Broker Protection Period Extension on Publicly Traded Warrants
PHOENIX--(BUSINESS WIRE)--Aug. 17, 1998--International FiberCom Inc. (NASDAQ:IFCI)(PHLX:IFC) Monday announced the company's common stock purchase warrants that trade publicly under the NASDAQ symbol: IFCIW will trade through the close of trading Aug. 18, 1998.
The company will extend the Broker Protection Period for any trades on the company's common stock purchase warrants that are recorded through Aug. 18, 1998 and settle on Aug. 21, 1998.
The company previously extended the warrant redemption date to Aug. 18, 1998, due to a several day delay in mailing the original notice of redemption to the warrant holders and to give the holders additional time to exercise their warrants. The company issued 1,302,480 common stock purchase warrants in conjunction with its secondary public offering in August, 1994.
Each warrant is exercisable to purchase one share of common stock at a price of $5.50 per share. The company has sent notices to the holders of the warrants indicating that they will have until 5:00 p.m. Eastern Standard Time, on Aug. 18, 1998 to exercise the warrants. The company will accept any warrant exercise that is mailed to the company's transfer agent, American Stock Transfer & Trust, with a postmark no later than Aug. 18, 1998.
The notices contain information about completing the warrant exercise. The company will redeem any warrants that have not been exercised by such point at a price of $.10 per warrant.
Thanks for any opinion you could provide,
Doug R
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