To: Glenn Petersen who wrote (833 ) 5/15/2007 7:40:18 AM From: Glenn Petersen Read Replies (1) | Respond to The market, specifically the warrant holders, has not yet endorsed Courtside Acquisition's (CRB) proposed acquisition of American Community Newspapers. The warrants (CRB-WT), which have an exercise price of $5.00 per share, are selling at $.46 while the common shares change hands at $5.59. Yesterday, the company announced that certain of the insiders have plans to purchase an aggregate of 1.5 million shares.Courtside Acquisition Corp. Affiliates Announce Purchase Plan have entered into written plans to purchase an aggregate of 1,500,000 shares of common stock of Courtside pursuant to Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934. Rule 10b5-1 allows officers and directors of public companies, at a time they are not aware of material nonpublic information, to adopt predetermined plans for purchasing or selling shares without regard to any subsequent non-public information the individual may receive. Rule 10b-18 provides a safe harbor from potential liability for stock price manipulation in connection with repurchases by or on behalf of an issuer or an affiliated purchaser of an issuer of common equity of the issuer if repurchases on any given day are made in accordance with the manner, timing, price and volume limitations of the rule. Messrs. Goldstein and Greenwald will each purchase up to a maximum of 555,000 shares of common stock and an entity controlled by Mr. Aboodi will purchase up to a maximum of 390,000 shares of common stock. These purchases will take place from time to time commencing on the date hereof. As previously announced, Courtside has entered into an Asset Purchase Agreement with American Community Newspapers LLC ("ACN") providing for the purchase by Courtside (or a subsidiary of Courtside to be formed for such purchase) of substantially all of ACN's assets and the assumption by Courtside (or such subsidiary, without the release of Courtside from its obligations) of certain of ACN's liabilities. biz.yahoo.com
