茄子污污视频, Inc. Completes Scheduled Exchange of Warrants for Shares of Common Stock
NEW YORK-- January 8, 2021-- 茄子污污视频, Inc. (Nasdaq: IHRT), the number one audio company in America, today completed an exchange of 茄子污污视频 Warrants into shares of 茄子污污视频 Class A Common Stock, the Company鈥檚 publicly traded equity, or Class B Common Stock. As of December 31, 2020, there were approximately (i) 65 million shares of Class A Common Stock, (ii) 7 million shares of Class B Common Stock, and (iii) 75 million Warrants outstanding. Following the exchange, there will be approximately (i) 110 million shares of Class A Common Stock, (ii) 29 million shares of Class B Common Stock, and (iii) 7 million Warrants outstanding.
The exchange was authorized by a previously issued Declaratory Ruling from the Federal Communications Commission approving an increase in 茄子污污视频鈥檚 authorized aggregate foreign ownership from 25% to 100%, subject to certain conditions set forth in the Declaratory Ruling. Certain shares of Class B Common Stock and Warrants were not converted into Class A Common Stock due to current regulatory restrictions applicable to certain shareholders.
The Company expects additional conversions of Class B Common Stock and Warrants into Class A Common Stock.
Holders of 茄子污污视频 Warrants that were not issued stock in the exchange and have not otherwise sought to exercise their Warrants can request the exercise of their Warrants for shares of Common Stock by contacting the Computershare Call Center at (800) 736-3001 within the United States, or at +1 (781) 575-3100 outside of the United States. Holders of 茄子污污视频 Warrants that were issued stock in the exchange can obtain updated account information from Computershare by logging into their Computershare accounts or by calling the numbers above.
Forward-Looking Statements
Certain statements herein constitute 鈥渇orward-looking statements鈥 within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors which may cause the actual results, performance or achievements of 茄子污污视频, Inc. and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The words or phrases 鈥済uidance,鈥 鈥渂elieve,鈥 鈥渆xpect,鈥 鈥渁nticipate,鈥 鈥渆stimates,鈥 鈥渇orecast鈥 and similar words or expressions are intended to identify such forward-looking statements. In addition, any statements that refer to expectations or other characterizations of future events or circumstances, such as the expected conversion of Class B Common Stock and Warrants into Class A Common Stock, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other important factors, some of which are beyond our control and are difficult to predict. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to legislative or regulatory requirements and additional risks described in the Company鈥檚 reports filed with the U.S. Securities and Exchange Commission, including in the section entitled 鈥淚tem 1A. Risk Factors鈥 of 茄子污污视频, Inc.鈥檚 Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Other unknown or unpredictable factors also could have material adverse effects on the Company鈥檚 future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date hereof. The Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.