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Article: TeraGlobal Announces Next Step In ``Going Private'' Transaction; Reverse Split Scheduled To Take Effect Nov. 6, 2002.
- Article from:
- Business Wire
- Article date:
- October 15, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
SAN DIEGO--(BUSINESS WIRE)--Oct. 15, 2002
TeraGlobal Communications Corp. (OTCBB:TGCM) announced today that it has filed a definitive Information Statement concerning its going private transaction with the SEC, and will begin mailing the Information Statement to shareholders.
On May 15, 2002, the company announced its intent to effect a 1-for-1,000 reverse split as part of a going private transaction. Since that time, the company has been revising the disclosure in the Information Statement in connection with an SEC review of the transaction. In accordance with state law, the reverse split can take place twenty (20) days ...