To: M.R. Davis who wrote (3249 ) 1/1/1999 8:23:00 PM From: Sir Auric Goldfinger Read Replies (1) | Respond to of 4761
Talk to me Goose (egg):"800 TRAVEL SYSTEMS, INC. 1,350,000 SHARES OF COMMON STOCK 2,700,000 REDEEMABLE COMMON STOCK PURCHASE WARRANTS(AND 2,700,000 SHARES OF COMMON STOCK ISSUABLE UNDER THE WARRANTS) All of the 1,350,000 shares (the "Shares") of Common Stock, par value $.01 per share (the "Common Stock") offered hereby and all of the 2,700,000 Redeemable Common Stock Purchase Warrants (the "Warrants") offered hereby are being sold by 800 Travel Systems, Inc., a Delaware corporation (the "Company"). The Common Stock and the Warrants (collectively, the "Securities") are being offered separately and not as units, and each is separately transferable. Prior to this Offering, there has been no public market for the Common Stock and the Warrants. It is estimated that the initial public offering price will be $5.00 per share for the Common Stock (the "Share Offering Price") and $.125 per Warrant. Each Warrant entitles the holder to purchase one share of Common Stock at a price of $6.25 per share during the five-year period commencing on the date of this Prospectus. The Warrants are redeemable by the Company for $.05 per Warrant on not less than 30 nor more than 60 days written notice if the closing price for the Common Stock for seven trading days during a 10 consecutive trading day period ending not more than 15 days prior to the date that the notice of redemption is mailed equals or exceeds $10.00 per share, subject to adjustment under certain circumstances and provided there is then a current effective registration statement under the Securities Act of 1933, as amended (the "Securities Act"), with respect to the issuance and sale of Common Stock upon the exercise of the Warrants. Any redemption of the Warrants during the one-year period commencing on January 13, 1998 shall require the written consent of First London Securities Corporation, one of the representatives of the Underwriters collectively, along with First Liberty Investment Group, Inc., the "Representatives"). See "Description of Securities." Lockup ending...