Reminder: Certain Tiger Media Warrants to Expire February 19, 2013
On December 5, 2012, Tiger Media, Inc. (“Tiger Media”) (NYSE MKT: IDI)(NYSE MKT: IDI.WS) provided holders of certain of its warrants the opportunity to exercise up to one-third of their warrants at a reduced exercise price and to extend the expiration date of a participating holder's remaining warrants, equal to two times the number of warrants exercised until December 26, 2013. The offer to exercise warrants at a reduced price began on December 5, 2012 and ended at 5:00 p.m. Eastern Time on December 26, 2012. Warrants that did not participate in the offer (the "Non-Participating Warrants") remained outstanding in accordance with their terms, including the exercise price of $6.00 per share for the Public and Insider Warrants and $7.00 per share for the Underwriter Warrants.
Tiger Media hereby reminds holders of Non-Participating Warrants that those warrants expire, in accordance with their terms, on February 19, 2013. Furthermore, the NYSE MKT has notified Tiger Media that trading in the Non-Participating Warrants on the NYSE MKT will be suspended after the close of business February 12, 2013 to ensure all trades in the Non-Participating Warrants settle in time to allow the purchasers of such Non-Participating Warrants to exercise on or before February 19, 2013. Approximately 5.8 million Non-Participating Warrants remain outstanding.
A holder can obtain further information on exercising Non-Participating Warrants by contacting his or her broker or Continental Stock Transfer & Trust Company, the Company's transfer agent. Brokers are encouraged to contact DTC in advance of the Expiration Date to confirm the procedures for exercising Non-Participating Warrants.
Any Non-Participating Warrant that remains unexercised on the Expiration Date will expire worthless and the holder thereof will not receive any shares of Tiger Media ordinary shares for such Non-Participating Warrants.
About Tiger Media
Tiger Media is a multi-platform media company based in Shanghai, China. Tiger Media operates a network of high-impact LCD media screens located in the central business district areas in Shanghai. Tiger Media's core LCD media platforms are complemented by other digital media formats that it is developing including transit advertising and traditional billboards, which together enable it to provide multi-platform, “cross-over” services for its local, national and international advertising clients. Learn more at www.tigermedia.com.
Any statements contained in this press release that do not describe historical facts, including statements about Tiger Media's beliefs and expectations, may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “confident” and similar statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations.
Potential risks and uncertainties include the risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. Tiger Media cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
Tiger Media, Inc.
Paul Conway, 0118613918844646