RE: The 424b3 filed 1/10/97
This filing is essentially an amendment of the S3 filed on 6/4/93. SWPL pointed out the following excerpt from the 6/4/96 S3 filing:
"....In addition, since 1993, the Company has maintained effective registration statements covering securities of the Company held by its stockholders, including, at the date of this Prospectus, approximately 8.8 million shares of Common Stock (representing approximately 19% the outstanding Common Stock on a fully diluted basis) held by certain affiliates of the Company and related parties. The sale, or the offer for sale, of substantial numbers of such shares could adversely affect the market price for the Common Stock......"
Because of options and insider purchases, the 8.8 million shares have increased to the current 9.36 million shares.
Because of a previous agreement with the preferred shareholders, Ampex has to pay the SEC registration fees and all related expenses anytime one or all of the preferred shareholders offer their shares to the public.
The offer to sell 9.36 million shares sounds like a procedural filing that AXC has to file to UPDATE an existing 1993 registration statement. Anybody with a more precise interpretation?
Otherwise, the statement on current operations (including the KM portions) is an exact duplicate of the statement filed on 1/6/97.
So, AXC has been busy at the SEC this week, huh? the 1/6/97 424b3 filing, the 2 form 4s on 1/8/97, the form 4/a on 1/9/97, and now this 424b3 on 1/10/97. No wonder Karen was out sick today!
Gus |
