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Radio Broadcasting Companies
Emmis Announces Launch of Modified "Dutch Auction" Tender Offer to Purchase up to $6 Million of Its 6.25% Series A Preferred Stock
December 17th, 2011
(NASDAQ: EMMS, EMMSP) - November 30, 2011 - Emmis Communications Corporation announced that it has launched a modified "Dutch auction" tender offer to purchase up to $6,000,000 in value of shares of its 6.25% Series A Cumulative Convertible Preferred Stock, par value $0.01 per share (the "Preferred Shares") at a price per share not less than $12.50 and not greater than $15.56. The offer will commence on November 30, 2011, and will expire at 5:00 p.m., New York City Time, on December 30, 2011, unless the offer is extended. Depending on the final purchase price of the offer, if the offer is fully subscribed, Emmis could purchase between 385,604 and 480,000 Preferred Shares representing 14.8%...
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Source: Investment Weekly News (2011-12-17)
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