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Technology Stocks : VitalStream Holdings Inc. (VSTH) -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (414)	12/5/2000 7:19:06 PM
From: blebovits	Respond to of 447

Sensar to gain stake in Net2Wireless, cancels merger SALT LAKE CITY, Dec 5 (Reuters) - Sensar Corp. (NASDAQ: SCII) and Net2Wireless are scrapping a merger agreement but Sensar will gain a 3 million-share stake plus warrants in the privately held company, Sensar said Tuesday. The arrangement was negotiated by the parties primarily due to significant uncertainties regarding Sensar obtaining the required vote to approve the merger, as well as several significant developments involving Nasdaq. Sensar will receive 3 million shares and a warrant to acquire an additional 1 million shares at an exercise price of $10 per share in net2Wireless, in exchange to release both companies from the merger deal. Net2Wireless will not be required to repay a $500,000 loan and will receive $1.5 million from Sensar, Sensar said. Sensar, whose shares closed at $2-1/8 on Dec. 4, said it will continue to seek other investment opportunities while retaining an interest in the future of Net2Wireless.