BEIJING, April 18, 2012 /PRNewswire-Asia/ -- Wowjoint
Holdings Limited (NASDAQ: BWOW, BWOWW and BWOWU) ("Wowjoint" or the
"Company"), China's innovative
infrastructure solutions provider of customized heavy duty lifting
and carrying machinery, today announced the extension of the
offering period for its previously announced exchange offer (the
"Offer") for its 7,700,642 outstanding warrants (the
"Warrants"). The Offer has been extended until 5:00 p.m., New York
City time, on July 17,
2012.
The Offer was previously scheduled to expire at 5:00 p.m., New York
City time, on April 18,
2012. Tenders of the Warrants must be made prior to the
expiration of the Offer and may be withdrawn at any time prior to
the expiration of the Offer.
The Company also announced today that its Board of Directors
approved the extension of the Warrants' expiration date to
May 15, 2013 (from May 15, 2012, the expiration date provided by the
original terms of the Warrants). Except for the extension of
the expiration date, the terms of the Warrants remain unchanged.
Any and all Warrants properly exercised at $5.00, in accordance with the terms of the
Warrants, prior to May 15, 2013, will
be accepted by the Company, unless previously tendered in the
Offer.
Warrant holders should review the Schedule TO, Offer to Exchange
and other Offer materials (as they may be supplemented or amended)
which the Company has filed or will file with the SEC and has
provided or will provide to Warrant holders. Warrant holders who
have previously tendered their Warrants do not need to take any
other action unless they desire to withdraw their
Warrants. Warrants may be withdrawn in accordance with the
procedures described in the Offer materials.
The last reported trading price of the Warrants on the NASDAQ
Global Market on April 17, 2012 was
0.03 per share. As of April 17, 2012, 3,005,558 Warrants have
been tendered and not withdrawn.
A copy of the Offer materials may be obtained from Georgeson,
Inc. the information agent for the Offer. Please contact Georgeson,
Inc. with any questions regarding the Offer at (212) 440-9800
(banks and brokers), (866) 767-8986 (toll-free) or
BWOW@Georgeson.com.
This announcement is for informational purposes only and does
not constitute an offer to exchange nor a solicitation of an offer
to tender any Warrants. The solicitation of offers to tender
Warrants in exchange for shares has been made pursuant to the Offer
to Exchange filed with the SEC (as may be amended or
supplemented) on March 22, 2012, the
related Letter of Transmittal and other related documents that
Wowjoint is sending to its Warrant holders. The Offer materials
contain important information that should be read carefully before
any decision is made with respect to the Offer. Those materials are
being distributed by Wowjoint to its Warrant holders at no expense
to them. In addition, all of those materials (and all other offer
documents filed with the SEC) are available at no charge on the
SEC's website at www.sec.gov and from the information
agent.
While Wowjoint's Board of Directors has approved the
extension of the expiration date of the Warrants, neither Wowjoint
nor any of its directors, officers or employees makes any
recommendation as to whether or when to exercise or tender these
Warrants.
About Wowjoint Holdings Limited
Wowjoint is a leading provider of customized heavy duty lifting
and carrying machinery used in large scale infrastructure projects
such as railway, highway and bridge construction. Wowjoint's main
product lines include launching gantries, tyre trolleys, special
carriers and marine hoists. The Company's innovative design
capabilities have resulted in patent grants and proprietary
products. Wowjoint believes it is well-positioned to benefit
directly from China's rapid
infrastructure development by leveraging its extensive operational
experience and long-term relationships with established blue chip
customers. Information on Wowjoint's products and other relevant
information are available on its website at
http://www.wowjoint.com.
Forward-Looking Statements
This press release includes "forward-looking statements" which
were intended to be identified by words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "continue," and similar expressions.
Forward-looking statements in this press release include matters
that involve known and unknown risks, uncertainties and other
factors that may cause actual results, levels of activity,
performance or achievements to differ materially from results
expressed or implied by this press release. Wowjoint undertakes no
obligation and does not intend to update these forward-looking
statements to reflect events or circumstances occurring after the
date of this communication. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this communication. All forward-looking statements
are qualified in their entirety by this cautionary statement. All
subsequent written and oral forward-looking statements concerning
Wowjoint or other matters and attributable to Wowjoint or any
person acting on their behalf are expressly qualified in their
entirety by the cautionary statements above. Wowjoint does not
undertake any obligation to update any forward-looking statement,
whether written or oral, relating to the matters discussed in this
news release.
For additional information contact:
Wowjoint Holdings:
Aubrye Foote, Vice President of Investor Relations
Tel: (530) 475-2793
Email: aubrye@wowjoint.com
Website: www.wowjoint.com
SOURCE Wowjoint Holdings Limited