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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (1565)	2/2/2008 10:52:34 AM
From: Glenn Petersen	Respond to of 3862

It should be also noted that the company has to call for the redemption of the warrants. It is not automatic. From the final prospectus for ESA: We may redeem the outstanding warrants (including warrants held by Ferris, Baker Watts, Incorporated): • in whole and not in part; • at a price of $0.01 per warrant; • at any time after the warrants become exercisable; • upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and • if, and only if, the last sales price of our common stock equals or exceeds $8.50 per share for any 20 trading days within a 30 trading day period ending three business days before we send the notice of redemption to warrant holders. We have established our redemption criteria to provide warrant holders with a premium to the initial warrant exercise price as well as a reasonable cushion against a negative market reaction, if any, to our redemption call. If the foregoing conditions are satisfied, we may call the warrants and each warrant holder will be entitled to exercise his or her warrants prior to the date scheduled for redemption. There can be no assurance, however, that the price of the common stock will exceed $8.50 or the warrant exercise price after the redemption call is made. sec.gov