AlphaSmart Announces Special Stockholder Meeting to Vote on Proposed Merger with Renaissance Learning
May 26 2005 - 5:00PM
PR Newswire (US)
AlphaSmart Announces Special Stockholder Meeting to Vote on
Proposed Merger with Renaissance Learning LOS GATOS, Calif., May 26
/PRNewswire-FirstCall/ -- AlphaSmart, Inc. (NASDAQ:ALSM) today
announced that the Securities and Exchange Commission (SEC) has
declared effective the amended registration statement on Form S-4
filed by Renaissance Learning, Inc. (NASDAQ:RLRN) in connection
with the proposed merger transaction between the two companies.
AlphaSmart has scheduled a special meeting of stockholders to vote
on the transaction for June 27, 2005 and intends to mail AlphaSmart
stockholders a proxy statement/prospectus for the meeting. On
January 25, 2005, AlphaSmart announced a definitive agreement to
merge with Renaissance Learning, a leading provider of daily and
periodic progress monitoring systems and school improvement
programs for pre-K-12 schools, in a transaction intended to qualify
as a tax-free reorganization valued at approximately $57 million.
Renaissance Learning filed the original Form S-4 and other relevant
materials with the SEC on February 25, 2005 and as amended on April
13, 2005, May 3, 2005 and May 25, 2005. The transaction is expected
to close as soon as practicable after the date of AlphaSmart's
special meeting of stockholders, subject to stockholder approval
and other customary closing conditions described in the definitive
merger agreement. AlphaSmart, Inc. AlphaSmart, Inc. is a provider
of affordable, portable personal learning solutions for the K-12
classroom. Its portable computer-companion products are used by
students to enhance writing, keyboarding and comprehension, and
have been adopted by more than 8,500 school districts in the United
States and other countries. Based in Los Gatos, California, the
company was founded in 1992 by former Apple Computer engineers.
Forward-Looking Statements Safe Harbor This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, including statements related to AlphaSmart's
definitive agreement to merge with Renaissance Learning, Inc. and
the expected closing of that merger. Any such forward-looking
statements may involve risks and uncertainties that could cause
actual results or events to differ materially from any future
results or events encompassed within the forward-looking
statements. Factors that could cause or contribute to such
differences include failure to satisfy the closing conditions of
the merger agreement and unexpected delays in closing the merger.
AlphaSmart expressly disclaims a duty to provide updates to
forward-looking statements, whether as a result of new information,
future events or other occurrences. Additional Information and
Where to Find It Renaissance Learning, Inc. filed a registration
statement on Form S-4, which included a proxy statement/prospectus
and other relevant materials in connection with the proposed merger
transaction involving AlphaSmart and Renaissance Learning, with the
Securities and Exchange Commission (SEC) on February 25, 2005 and
as amended on April 13, 2005, May 3, 2005 and May 25, 2005 (File
No. 333-122993). INVESTORS AND SECURITY HOLDERS ARE URGED TO READ
THIS FILING BECAUSE IT CONTAINS IMPORTANT INFORMATION REGARDING THE
PROPOSED MERGER TRANSACTION. Investors and security holders may
obtain free copies of these documents and other documents filed
with the SEC at the SEC's website at http://www.sec.gov/. In
addition, investors and security holders may obtain free copies of
the documents filed with the SEC by AlphaSmart at AlphaSmart's
website at http://www.alphasmart.com/ or by contacting AlphaSmart
investor relations at or via telephone at (408) 355-1029. Investors
and security holders may obtain free copies of the documents filed
with the SEC by Renaissance Learning by directing such requests to
Renaissance Learning, Inc., Attention: Corporate Secretary, 2911
Peach Street, P.O. Box 8036, Wisconsin Rapids, Wisconsin 54995 or
via telephone at (715) 424-3636. Renaissance Learning, AlphaSmart
and their respective directors and executive officers may be deemed
to be participants in the solicitation of proxies from the
stockholders of AlphaSmart in connection with the merger
transaction. Information regarding directors and executive officers
of AlphaSmart and Renaissance Learning and their respective
interests in the proposed transaction will be available in the
proxy statement/prospectus of AlphaSmart and Renaissance Learning
described above and other relevant materials to be filed with the
SEC. NOTE: AlphaSmart is a registered trademark of AlphaSmart, Inc.
in the United States and other countries. All other trademarks are
the property of their respective owners. DATASOURCE: AlphaSmart,
Inc. CONTACT: investors, Manish Kothari, President of AlphaSmart,
Inc., +1-408-355-1029, or Web site: http://www.alphasmart.com/
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