A-Power Separates All Issued and Outstanding Units
March 19 2008 - 10:32AM
Business Wire
A-Power Energy Generation Systems
(NASDAQ:APWR)(NASDAQ:APWRW)(NASDAQ:APWRU) ("A-Power"), today
announced that, in preparation for the upcoming redemption of its
warrants, it has separated all of its issued and outstanding units,
which traded separately from the common stock and public warrants
under the symbol APWRU. As a result, each unit has been converted
into one share of common stock and two warrants. Until and through
the close of business on the upcoming redemption date, each warrant
entitles the holder to purchase from A-Power one share of the
Company�s common stock at an exercise price of $5.00. After the
final redemption date, holders of warrants who have not exercised
them will be paid $0.01 per warrant, and the warrant will be
extinguished. The common stock purchase warrants were originally
issued by Chardan South China Acquisition Corp. in August 2005. As
a result of the merger of Chardan South and A-Power, the warrants
are now exercisable into common shares of A-Power. About A-Power
A-Power Energy Generation Systems, Ltd., formerly Chardan South
China Acquisition Corp., through its PRC operating subsidiary,
Liaoning GaoKe Energy Group Co., Ltd., is the largest provider of
distributed power generation systems in China and will enter into
China�s wind energy market in 2008. The Company is also focused on
developing and commercializing additional renewable energy
technologies and has strategic relationships with both Tsinghua
University and the China Sciences Academy in Guangzhou.
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