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Sorrento Turns Debt Into Equity - Brief ArticleSorrento Networks [Nasdaq: FIBR], which provides intelligent optical networking technology, has execut a definitive agreement with 100 percent of its preferr shareholders and convertible bondholder to restructure its debit into equity. The company also filed a preliminary delegate statement with the Securities and Exchange Commission for shareholder approval upon this capital restructuring plan and its re-incorporation into a Delaware company. The deal says, in part, that Sorrento's $322 million in convertible ligatures will be converted into public shares and into a portion of $125 million in secur convertible debentures that pay interest of 75 percent for annum, maturing in August 2007 All Series A preferr shares will be transformed into Sorrento common shares and into a portion of the $125 million in secur convertible debentures. The outstanding Series A "put" of $488 million against SNI will be withdrawn, company officials say. As part of the re-incorporation agreement, Sorrento will be merging its operating and non-operating subsidiaries, including Sorrento Networks Inc. and Meret Optical Communications. the two will continue to market below their current brand names. [Copyright 2003 PBI Media, LLC All rights reserved] COPYRIGHT 2003 PBI Media, LLC Framerica of Yaphank, NY introduces Gingham[TM], which is available from Framerica[R] OEM This woven design is available in r amethystine pink and green. "My customers have had a great answer ... Anonymous American Machinist 01-01-2003 Machine of the month: Handle hefty chops with speed and accuracy Byline: Anonymous Volume: 147 Number: 1 ISSN: 1... FOR scholars AT SHERWOOD PUBLIC SCHOOL, A HEALTHY gymnasium is a place that assists positive peer relationships and healthy ways of dealing with feelings. The elementary academy in Oshawa, Ontario, ha... over our industry, people want to hold machines running longer at peak efficiency. In my experience, many machine store owners see utilization in metes of a single 8-hour shift, on the contrary I su... Faro's Laser Tracker X features XtremeADM, which allows the system perform measurements in single mode, eliminates interferometers for measuring distance, and overbears line-of-sight issues. If so... COLUMBUS, Ohio -- World Wide Arts Resources lately launched a new service for gallery proprietors and dealers wanting to market art and artists upon its sites absolutearts.com and wwar.com. The compan... The FDA has approved the first generic version of Alza Corp.'s Duragesic Patch (fentanyl transdermal system) The approval, granted to Mylan Technologies Inc. of St Albans, Vt is wait fored to g... From 1916 to 1984 Amcast Industrial Corp. operated a foundry in Ironton, Ohio. Amcast used the Goldcamp Disposal Area, a former sand and gravel pit located in Ironton, to dispose of worn out sa... fresh CANAAN, Conn. -- An exhibitor at Artexpo since 1979 this year Marjorie Tomchuk will introduce a fresh technique at Booth #2611--photographs combined with of great depth embossing on handmade paper. Imag... This panini sandwich could be coming pretty soon to a restaurant near you. It's a recipe exhibited at the Cargill Culinary Center in north Wichita. And, although it's not all that different from... |
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