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Article: iParty Corp. Announces Preferred Stock and Warrant Corrections.
- Article from:
- Business Wire
- Article date:
- October 31, 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
WEST ROXBURY, Mass.--(BUSINESS WIRE)--Oct. 31, 2002
iParty Corp. (AMEX: IPT), the nation's premier multi-channel retailer for party goods with 35 iParty retail stores and iParty.com, today reported that it has determined that the Company incorrectly applied the anti-dilution provisions of its Series B, C and D Convertible Preferred Stock (the "Affected Preferred Stock") in conjunction with dilutive financings in August and September 2000. The Company has determined that it inadvertently issued additional shares of Affected Preferred Stock, instead of adjusting the Affected Preferred Stock's conversion ratios. The Company also ...