Globix Corporation Announces Warrant Redemption
NEW YORK – June 8, 1998
Globix Corporation (NASDAQ Smallcap: GBIX, GBIXW; BSE: GXC, GXCW), formerly known as Bell Technology Group Ltd., announced today that it has called for redemption of its publicly traded common stock purchase warrants issued in connection with the Company’s initial public offering in January, 1996 (the ‘IPO Warrants’). Warrant holders have until July 8, 1998 to exercise their right to purchase the Company’s common stock underlying the IPO Warrants or to sell the IPO Warrants in the open market. All outstanding IPO Warrants will expire at 5:00 p.m., New York Time, on July 8, 1998, and will be redeemed by the Company at a redemption price of $0.10 per IPO Warrant.
There are 592,055 IPO Warrants currently outstanding. Each IPO Warrant entitles the holder to purchase one share of common stock of the Company at an exercise price of $7.44 per common share.
Globix Corporation is an Internet service provider engaged in the design, construction, and provision of sophisticated Internet-based solutions to large and medium-sized business enterprises. The Company’s services include: (i) high bandwidth dedicated Internet access, web hosting and co-location facilities, (ii) value-added systems and network integration, (iii) interactive development – digital web design, web implementation and 3-dimensional computer animation and (iv) instructor led corporate training. The Company currently provides Internet services to over 490 clients in New York City.
Globix is a leading provider of advanced Internet hosting, network and applications solutions for business. Globix delivers services via its secure state-of-the-art Internet DATA Centers, its high-performance global backbone and content delivery network, and its world-class technical professionals. Globix provides businesses with cutting-edge Internet resources and the ability to deploy, manage and scale mission-critical Internet operations for optimum performance and cost efficiency.