CD&L, Inc., Announces Terms of Rights Offering
31 Août 2004 - 8:37PM
PR Newswire (US)
CD&L, Inc., Announces Terms of Rights Offering SOUTH
HACKENSACK, N.J., Aug. 31 /PRNewswire-FirstCall/ -- CD&L, Inc.
(AMEX:CDV) announced that today the U.S. Securities and Exchange
Commission has declared effective the company's registration
statement for a rights offering to holders of its common stock,
stock options and certain convertible notes. In the rights
offering, CD&L will grant such holders the right to subscribe
for one share of common stock for every four shares of common stock
that they hold or are entitled to receive upon the exercise of
options or the conversion of notes on the record date for the
rights offering. Each whole subscription right entitles the holder
to purchase one share of common stock for $1.016 per share. The
subscription rights will be nontransferable. The rights offering
will be made by way of a dividend of subscription rights to the
holders of record of the eligible securities as of August 31, 2004.
The rights offering is scheduled to commence on September 1, 2004,
and expire at 5:00 p.m., New York City time, on September 30, 2004,
unless extended by the company. In the event that the rights
offering is not fully subscribed, holders of subscription rights
who exercise their rights in full would be eligible to purchase
additional shares on a pro rata basis up to a maximum of one times
the holder's initial subscription privilege. Shareholders will be
mailed a prospectus and subscription documents on or about
September 1, 2004, and can exercise their rights by completing the
documents and forwarding them by mail, hand delivery or overnight
courier, along with payment for the shares being subscribed for, to
the subscription agent, American Stock Transfer & Trust
Company, Attention: Subscription Agent, 59 Maiden Lane, Plaza
Level, New York, New York 10038. Additional copies of the
prospectus and subscription documents can be obtained from the
company by writing to Russell J. Reardon, Vice President and Chief
Financial Officer, CD&L, Inc., 80 Wesley Street, South
Hackensack, New Jersey 07606, or by phoning Mr. Reardon at
201-487-7740. Mr. Reardon will also answer stockholders' questions
and provide assistance concerning the subscription process. The
rights offering will only be made by means of a prospectus. This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities in the rights
offering, nor shall there be any sale of any securities in any
state in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
such state or jurisdiction. Forward-Looking Statements: This press
release contains forward-looking statements by CD&L regarding
the proposed rights offering. Words and expressions such as "will,"
"would," "expect," "plan," "believe," "seek," "anticipate," hope,"
"estimate" and similar expressions are intended to identify
CD&L's forward-looking statements. These forward-looking
statements involve a number of risks and uncertainties that could
cause actual results to differ materially from those anticipated.
These risks include, but are not limited to, CD&L's ability to
complete the rights offering discussed in this press release and
changes in economic and market conditions. These and other risks
and uncertainties are described in more detail in CD&L's
filings with the Securities and Exchange Commission
(http://www.sec.gov/) made from time to time, including CD&L's
Annual Report on Form 10-K for the fiscal year ended December 31,
2003, and Quarterly Reports on Form 10-Q for the fiscal quarters
ended March 31 and June 30, 2004, as may be amended from time to
time, and all subsequent filings with the Securities and Exchange
Commission. CD&L makes no commitment to revise or update any
forward-looking statements in order to reflect events or
circumstances after the date any such statement is made.
DATASOURCE: CD&L, Inc. CONTACT: Russell Reardon, CFO of
CD&L, Inc., +1-201-487-7740
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