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US: Jamba traded warrants to expire

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Jamba Inc has said that the company's publicly traded units and warrants will expire and that the warrants will not be exercisable after the close of business on 28 June 2009. The company has notified NASDAQ of its move.

Trading in the warrants and units will be halted after the market closes on June 23, 2009 to allow three trading days to clear any trades prior to such expiration.

Accordingly, the units and warrants will no longer be publicly traded after 23 June. Prior to the close of business on 28 June, each publicly traded warrant may be exercised to purchase one share of common stock at a price of US$6.00.

Jamba is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises Jamba Juice stores.

Earlier this week, Jamba said it had completed its previously announced sale of $35m in convertible preferred stock.

The stock becomes redeemable by Jamba at the election of the purchasers in June 2016, unless converted earlier, and includes an 8% annual dividend. The preferred stock is convertible into common shares at a price of $1.15 per share.


Sectors: Soft drinks

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