RMG Networks Announces Results of Warrant Exchange Offer and Consent Solicitation
27 March 2014 - 11:49PM
Marketwired
RMG Networks Announces Results of Warrant Exchange Offer and
Consent Solicitation
DALLAS, TX--(Marketwired - Mar 27, 2014) - RMG Networks Holding
Corporation, or RMG Networks (NASDAQ: RMGN), a leading provider of
technology-driven video advertising and visual communications
solutions, today announced the expiration of the offering period
for its exchange offer for all of its outstanding warrants. The
offering period and related consent solicitation expired at 11:59
p.m. Eastern Time on March 26, 2014.
As of the offering period expiration time, 3,417,348 public
warrants had been tendered and not properly withdrawn pursuant to
the exchange offer, which represented approximately 43% of the
8,000,000 outstanding public warrants (and approximately 26% of the
total number of outstanding warrants, including 5,066,666 sponsor
warrants). Based upon an exchange ratio of eight warrants for one
share of common stock, the Company expects to issue approximately
427,169 shares of common stock. Because fewer than 65% of the
Company's outstanding public warrants were tendered pursuant to the
exchange offer and consent solicitation, the proposed amendment to
the warrant agreement governing the warrants was not approved.
ABOUT RMG NETWORKS
RMG Networks (NASDAQ: RMGN) helps brands and organizations
communicate more effectively using location-based video networks.
The company connects brands with target audiences using video
advertising networks comprised of over 200,000 display screens,
reaching over 100 million consumers each month. The company also
builds enterprise video networks that empower organizations to
visualize critical data to better run their business. RMG Networks
works with over 70% of the Fortune 100. The company is
headquartered in Dallas, Texas with offices in the United States,
United Kingdom, China, India, Singapore, Brazil and the U.A.E. For
more information, visit http://www.rmgnetworks.com.
Contact: For RMG Networks Holding Corporation Investor
Relations Carolyn M. Capaccio (212) 838-3777 Email Contact
Media TallGrass Public Relations Shawn Roberts (415)
305-6456 Email Contact
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