Global Intellicom--Symbol GBIT Message Board

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Microcap & Penny Stocks : Global Intellicom--Symbol GBIT

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To: Jason Riche who wrote (826)	9/18/1998 3:35:00 AM
From: tahoeman	Read Replies (1) of 1096

Jason, "The Offer will be a package of Integrated's securities in the form of a Unit (''the Unit'') that will include: one share of common stock; one Class A Warrant to purchase one share of the Integrated's common stock at a purchase price of $3.00 per share exercisable twelve months from the issuance of the Unit; and one Class B Warrant to purchase one share of the Integrated's common stock at a purchase price of $5.00 per share exercisable twenty four months from the issuance of the Unit. It is contemplated that the Units will be publicly traded as a separate security and their component securities will not be allowed to be detached from the Unit for a period of twenty four months following their issuance. In the event that the market price of Integrated's Common Stock exceeds the warrant exercise price of either Class of Warrants by at least 20% for a period of five successive trading days, that Class of Warrants will be subject to call by Integrated at a call price of $.10 per Warrant for the succeeding 30 day period." Basically, for each share of GBIT you get a UNIT consisting of one share of one common share of IGHS, one warrant that gives you the right to purchase another share of IGHS for $3 after one year of issuance, and another warrant that gives you the right to purchase another share of IGHS for $5 after two years of issuance. When the market price of IGHS exceeds the warrent exercise price by 20% for 5 consecutive days, then the company can buy the warrant from you for a dime, or you can exercise the warrant. We'll have to see what details the companies provide, but I would guess that there might be some way to trade warrants, so you could buy the stock when the warrant becomes exercisable, or trade the warrant.....we'll soon see. It's a lot to read, but hope it helps... --tahoe

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