Jan, 2003 : Interland Registers to Sell up to 9M Shares

📅 January 23, 2003 - Web hosting organization Interland Inc. (Interland.com ) reportedly registered to sell up to 9 million shares of its common stock for former shareholders of Trellix Corp.

According to a shelf filing made late Wednesday with the Securities and Exchange Commission, the company was required to register the resale of the shares by a merger agreement.
Interland closed its acquisition of privately-held Web site software developer Trellix earlier this week, for about $12.2 million in cash, stock and warrants.
On January 2, Trellix shareholders became eligible to receive 3 million common shares of Interland, and warrants to purchase an additional 6 million shares at an exercise price of $5 per share, upon Interland completing its acquisition of Trellix. Interland says it won't receive any of the proceeds from the holders' sale of the common shares.

Reads: 2070 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/int012303.cfm

Company: Interland

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