The rights, which expire on July 29, 2021, will be distributed to shareholders of the Company of record as of the record date (August 9, 2011) as a non-taxable dividend. The rights will not affect the manner in which shares of common stock are traded. The rights will trade with the Company’s common stock until the occurrence of certain events, at which time the rights would become separated. The Board of Directors may freely amend or supplement the rights agreement, or redeem the rights, at any time before the date of a public announcement of a beneficial owner of 15% or more of the common stock and may, after that date, exchange the rights for shares of common stock as provided in the rights agreement.The Company will file a Current Report on Form 8-K with the Securities and Exchange Commission before or on August 4, 2011 that discloses the material terms of the rights agreement and includes a copy of the rights agreement.
Interphase Corporation Adopts New Shareholder Rights Agreement
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