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Share Name | Share Symbol | Market | Type |
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Phazar Corp (MM) | NASDAQ:ANTP | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 0 | 01:00:00 |
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You will lose the certainty provided by the Merger Agreement of receiving a fixed amount of cash consideration for your shares of $1.25 per share.
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PHAZAR will likely need to take stringent cost-saving measures because of its continued poor financial condition and persistent operating losses. The Company anticipates that these measures will include deregistering as a public company and delisting PHAZAR’s stock from NASDAQ, which the Company estimates would save up to $200,000 to $250,000 in annual expenses. It is expected that deregistration and delisting would have a significant and adverse impact on the liquidity of PHAZAR’s stock.
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If PHAZAR’s operating losses continue, it could be unable to meet its obligations as they come due and be required to file for bankruptcy. The $500,000 loan to the Company from Parent will become due and payable on July 31, 2013, regardless of whether the Merger is completed by that date. It is unlikely that the Company will have sufficient cash to repay the loan when it comes due. PHAZAR’s real estate assets are pledged to secure the loan and are at risk if the loan is not repaid in accordance with its terms.
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Very Truly Yours,
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/s/ Gary W. Havener
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Gary W. Havener
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Chairman of the Board
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VOTE BY INTERNET:
www.investorvote.com/ANTP
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VOTE BY MAIL
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VOTE BY PHONE:
1-800-652-VOTE (8683)
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Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to PHAZAR CORP, Proxy Services, c/o Computershare Investor Services, P O Box 43101, Providence RI. 02940-5067
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TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
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KEEP THIS PORTION FOR YOUR RECORDS |
DETACH AND RETURN THIS PORTION ONLY
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PHAZAR CORP
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Vote on Proposals
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For
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Against
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Abstain
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Proposal 1 — Approval of the adoption of the Agreement and Plan of Merger, dated as of March 13, 2013, by and among PHAZAR CORP, QAR Industries, Inc., a Texas corporation, and Antenna Products Acquisition Corp., a Delaware corporation and a wholly-owned subsidiary of QAR Industries, Inc., pursuant to which Antenna Products Acquisition Corp. will merge with and into PHAZAR CORP with PHAZAR CORP surviving as a private company wholly-owned by QAR Industries, Inc.
Proposal 2 — Approval of a proposal to adjourn the Special Meeting to a later date or time, if necessary or appropriate, to solicit additional proxies in favor of the proposal to adopt the Merger Agreement.
In their discretion, the proxies are authorized to vote on such other business as may properly come before the Special Meeting or any adjournments or postponements of the Special Meeting.
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Note: Please mark, date and sign this proxy card and return it. Please sign as your name appears hereon. If shares are registered in more than one name, all owners should sign. If signing in a fiduciary or representative capacity, please give full title and attach evidence of authority. Corporations please sign with full corporate name by a duly authorized officer and affix corporate seal.
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Yes
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No
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Please indicate if you plan to attend this meeting
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Signature |
Date
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Signature (Joint Owners) |
Date
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1 Year Phazar Chart |
1 Month Phazar Chart |
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