INDIANAPOLIS, Dec. 12, 2011 /PRNewswire/ -- Emmis Communications Corporation (NASDAQ: EMMS, EMMSP) hereby announces that it has increased the minimum tender price in its modified "Dutch auction" tender offer (the "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"). Emmis is offering to purchase its Preferred Shares at a price per share not less than $14.00 and not greater than $15.56. Tendering shareholders may continue to use the Letter of Transmittal which was previously circulated. While that Letter of Transmittal indicates that Emmis is offering to pay $12.50 to $15.56 per share, shareholders using that Letter of Transmittal will nevertheless be subject to the increased minimum of $14.00 per share. Any shares previously tendered at a price below $14.00 per share shall be deemed to have been tendered at $14.00 per share.
Emmis Announces Increase In Minimum Tender Price In Its Modified "Dutch Auction" Tender Offer To Purchase Up To $6 Million Of Its 6.25% Series A Preferred Stock
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.