Infinity Bio-Energy Completes Private Offer to Redeem Warrants From Certain Warrantholders and May Continue to Purchase Warrants in the Market From Time to Time
Posted on: Wednesday, 2 January 2008, 09:00 CST
SAO PAULO, Jan. 2 /PRNewswire-FirstCall/ -- Infinity Bio-Energy Ltd. ("Infinity" or the "Company") (AIM: IBI.L) is pleased to announce completion of a private offer to a limited number of its warrant holders for redemption of their warrants.
In such private offer, the Company offered to a limited number of its holders of outstanding warrants the opportunity to sell such warrants to the Company at a price equal to $1.05 per warrant. As a result of such private offer, the Company agreed to redeem 18,797,141 warrants for an aggregate consideration of $19,736,998. Infinity may continue to purchase warrants in the market from time to time.
As a result of the offer, upon valid delivery of the warrants for redemption, the Company will have 94,798,143 shares, 73,147,870 warrants and 6,020,000 unit purchase options outstanding.
The warrants have a strike price of US$5.00 for conversion into Common Shares. The unit purchase options, which were issued at the time of the original listing on AIM in May 2006, have a strike price of US$7.50 and result in the issuance per unit of one Common Share and two warrants that have an exercise price of US$5.00 per share.
Infinity Bio-Energy Ltd.
CONTACT: Sergio Thompson-Flores, CEO, +55 11 3525-9922, or AlbertoTepedino, CFO, +55 11 3525-9923, both of Infinity Bio-Energy Ltd.; or AdrianHadden of Collins Stewart Europe Limited for Infinity Bio-Energy Ltd.,+44 (0)20 7523 8350
Source: PRNewswire-FirstCall
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