Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (24309)	3/20/2002 4:16:41 PM
From: Joe Copia	Read Replies (1) \| Respond to of 25711

IMPERIAL SUGAR CO - Issue Date and Exercise Price for Warrants Under Its Plan of - Reorganization New York, New York, Mar 20, 2002 (Market News Publishing via COMTEX) -- Imperial Sugar Company announced that warrants to purchase shares of its common stock, issuable under its plan of reorganization effective August 29, 2001, will have an initial exercise price of $31.89. The Company has set March 22, 2002 as the distribution date for the warrants and expects that the warrants will commence trading on the OTCBB under the symbol "IPSUZ" on March 25, 2002. Under the plan of reorganization, warrants to purchase an aggregate of 1,111,111 shares of Imperial Sugar common stock are issuable to shareholders of record on August 29, 2001. Each warrant will be exercisable for one share of common stock through August 29, 2008. The exercise price and number of shares issuable on exercise are subject to adjustment in certain circumstances. Under the plan of reorganization, shareholders of record on August 29, 2001 are entitled to receive 0.034280 warrants for each share of old common stock held of record on August 29, 2001. The rights to receive these warrants have traded OTC under the symbol "IPRLZ". No fractional warrants will be issued. Only shareholders of record on August 29, 2001 are entitled to receive warrants and/or a portion of the cash proceeds from the sale of all fractional interests in warrants. This issuance of warrants completes the distribution of securities to old shareholders pursuant to Imperial's Plan of Reorganization. For each 1,000 shares of old common stock held of record August 29, 2001, shareholders received 6 shares of new common stock in an initial distribution in September 2001, an additional 2 shares of new common stock in February 2002 and this issuance of 34 warrants to purchase new common stock. Imperial Sugar Company is the largest processor and marketer of refined sugar in the United States and a major distributor to the food service market. The Company markets its products nationally under the Imperial(TM), Dixie Crystals(TM), Spreckels(TM), Pioneer(TM), Holly(TM) and Diamond Crystal(TM) brands. Statements regarding commencement of warrant trading and other statements which are not historical facts contained in this release are forward-looking statements that involve certain risks, uncertainties and assumptions. These include, but are not limited to, securities market operations, market liquidity and other factors detailed in the Company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. CONTACT: TEL: 281/490-9587 Imperial Sugar Company, Sugar Land J. Chris Brewster TEL: 212/850-5600 Investor Relations, Morgen-Walke Associates Gordon McCoun, Media Contact: Steve DiMattia