Have you seen the news on the rights offering? Wonder if they are a better investment then the common shares?
FORT LAUDERDALE, Fla., Feb. 25 /PRNewswire/ -- Florida Panthers Holdings, Inc. (NYSE: PAW) today announced that the Securities and Exchange Commission has declared effective the Registration Statement on Form S-3 relating to the company's rights offering to existing holders of its common stock.
The rights offering entitles the company's stockholders of record as of February 24, 1999 to purchase one share of Class A Common Stock for every 10 shares of Class A Common Stock or Class B Common Stock owned. The purchase price in the rights offering will be $10.25 per share. This offer will be made only by means of a prospectus. The company expects to commence the rights offering on or about March 2, 1999 by distributing the prospectus and subscription card to its stockholders by mail. The offering period will expire at 5:00 p.m. Eastern Standard Time on March 31, 1999, unless extended by the company.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or other jurisdiction.
Florida Panthers Holdings, Inc. owns luxury resort properties in Florida and Arizona. The company's resort portfolio includes the Boca Raton Resort & Club, the Arizona Biltmore Hotel, the Registry Hotel at Pelican Bay, the Edgewater Beach Hotel, the Hyatt Regency Pier 66 Resort and Marina, the Radisson Bahia Mar Resort and Yachting Center and the Grande Oaks Golf Club. The company also owns the Florida Panthers Hockey Club, the operations of two ice skating rinks and interests in the operations of the National Car Rental Center, located in Broward County, Florida, and the Miami Arena.
SOURCE Florida Panthers Holdings, Inc.
/CONTACT: Stan Smith of Florida Panthers Holdings, 954-627-5021/
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 121425/
/Web site: pawinvestor.com
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