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

To: RockyBalboa who wrote (2015)	6/12/2009 5:55:52 PM
From: Glenn Petersen	Read Replies (2) \| Respond to of 3862

HUGHES Telematics (stock symbol: [t]HUTC[/t]) is offering to exchange one share of common stock for 20 warrants. The common shares closed at $6.00 today, down $.50, and the warrants closed at $.25, up $.04. HUGHES Telematics, Inc. Announces Intention to Offer Exchange Common Stock for Outstanding Warrants On Friday June 12, 2009, 8:00 am EDT ATLANTA--(BUSINESS WIRE)--HUGHES Telematics, Inc. (“HTI” or the “Company”), (OTCBB: HUTC - News) (OTCBB: HUTCW - News) (OTCBB: HUTCU - News), announced today that the Company intends to offer the holders of all 15,000,000 outstanding, publicly traded warrants (“Public Warrants”) and of 4,500,000 warrants issued by the Company in private placements prior to its acquisition of Hughes Telematics (the ‘‘Private Warrants’’ and collectively with the Public Warrants, the “Warrants”) the opportunity, for a limited time, to acquire one share of common stock of the Company in exchange for every 20 Warrants surrendered. The offer is expected to commence on or about Tuesday, June 16, 2009 and continue for a period of twenty (20) business days. Following such period, unless otherwise extended, by its terms, the offer will expire. The expiration date of the Warrants will remain January 10, 2012. “We are making this offer to reduce the number of Warrants outstanding. We believe the offer is attractive to our Warrant holders and good for our common stock holders. We look forward to the participation of the Warrant holders,” said Jeffrey Leddy, CEO of HTI. The terms and conditions of the offer will be set forth in the documentation distributed to holders of outstanding HTI warrants and units (OTCBB: HUTCW - News, HUTCU - News). A copy of the offering document relating to the offer, when available, may be obtained from Morrow & Co., LLC, the Information Agent for the offering. When the materials are available, please contact the Information Agent with any questions regarding the exchange offer. The foregoing reference to the exchange offer and any other related transactions shall not constitute an offer to buy or exchange securities or constitute the solicitation of an offer to sell or exchange any securities in HTI or any of its subsidiaries. Investors and security holders are urged to read the following documents when filed with the SEC, as amended from time to time, relating to the offer as they contain important information: (1) the Schedule TO; (2) the Offer Letter; and (3) the documents incorporated by reference into the Schedule TO and the Offer Letter filed by the Company pursuant to the Securities Exchange Act of 1934. These and any other documents relating to the offer, when they are filed with the SEC, may be obtained at the SEC’s website at www.sec.gov, or from the Information Agent as noted above. <snip> finance.yahoo.com