Stockholders Approve DG/StarGuide Marriage

Stockholders Approve DG/StarGuide Marriage
Author:
Publish date:
Social count:
0

Stockholders have approved the merger of DG Systems Inc. with StarGuide Digital Networks. DG operates a digital network for distributing audio and video that links ad agencies with radio and TV stations. StarGuide's latest service, called CoolCast, aggregates and delivers audio and video to desktop PC users.
According to the agreement, 1.7 DG shares of stock will be issued for each outstanding share of StarGuide stock. When the deal is done, the combined company will have about 80 million fully diluted shares outstanding, with current DG shareholders owning about 41% and current StarGuide shareholders owning about 60% of the combined company.
The deal is expected to close in January.
Leslie Stimson

Related