Metrocall (NASDAQ:MTOH)
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Metrocall and Arch Agree to Waive Appraisal Condition to Merger
ALEXANDRIA, Va., Nov. 15 /PRNewswire-FirstCall/ -- Metrocall Holdings, Inc.
(NASDAQ:MTOH) and Arch Wireless, Inc. (NASDAQ:AWIN) today announced that their
respective boards of directors have authorized the waiver of the condition to
their merger agreement that the number of shares of Metrocall common stock for
which appraisal rights are asserted not exceed 8% of the fully-diluted common
stock of Metrocall. Holders of approximately 8.04% of Metrocall's
fully-diluted common stock have asserted their right to seek appraisal net of
those that have been withdrawn.
Under the merger agreement, Metrocall and Arch will merge and each company will
become a subsidiary of a new company called USA Mobility, Inc. Subject to the
satisfaction or waiver of the remaining closing conditions, Metrocall and Arch
expect to complete the merger early this week and anticipate that trading of
the common stock of USA Mobility on the Nasdaq National Market under the symbol
"USMO" will commence on the first business day after the merger.
About Metrocall Holdings
Metrocall Holdings, Inc., headquartered in Alexandria, Virginia, is a leading
provider of paging products and other wireless services to the business,
government and healthcare communities. In addition to its reliable, nationwide
one-way networks, Metrocall's two-way network has the largest high- powered
terrestrial ReFLEX footprint in the United States with roaming partners in
Canada, Mexico and the Caribbean. Metrocall Wireless is the preferred ReFLEX
wireless data network provider for many of the largest telecommunication
companies in the United States that source network services and resell under
their own brand names. In addition to traditional numeric, one-way text and
two-way paging, Metrocall also offers wireless e-mail solutions, as well as
mobile voice and data services through AT&T Wireless and Nextel. Also,
Metrocall offers Integrated Resource Management Systems with wireless
connectivity solutions for medical, business, government and other campus
environments. Metrocall focuses on the business-to-business marketplace and
supports organizations of all sizes. For more information on Metrocall please
visit our Web site and online store at http://www.metrocall.com/ or call
800-800-2337.
About Arch Wireless
Arch Wireless, Inc., headquartered in Westborough, Mass., is a leading wireless
messaging and mobile information company with operations throughout the United
States. It offers a full range of wireless messaging and wireless e-mail
services, including mobile data solutions for the enterprise, to business and
retail customers nationwide. Arch provides services to customers in all 50
states, the District of Columbia, Puerto Rico, Canada, Mexico and in the
Caribbean principally through a nationwide direct sales force, as well as
through indirect resellers, retailers and other strategic partners. Additional
information on Arch is available on the Internet at http://www.arch.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act
Statements contained herein or in prior press releases which are not historical
fact, such as statements regarding Arch and Metrocall's expectations for
completing their pending merger, are forward-looking statements for purposes of
the safe harbor provisions under the Private Securities Litigation Reform Act
of 1995. These forward-looking statements involve risks and uncertainties that
may cause Arch and Metrocall's actual results to be materially different from
the future results expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from those
expectations include, but are not limited to, declining demand for their paging
products and services, Arch and Metrocall's ability to continue to reduce
operating expenses, Arch and Metrocall's future capital needs, competitive
pricing pressures, competition from both traditional paging services and other
wireless communications services, government regulation, reliance upon third
party providers for certain equipment and services, as well as other risks
described from time to time in Arch and Metrocall's periodic reports and
registration statements filed with the Securities and Exchange Commission.
Although Arch and Metrocall believe the expectations reflected in the
forward-looking statements are based on reasonable assumptions, they can give
no assurance that their expectations will be attained. Arch and Metrocall
disclaim any intent or obligation to update any forward-looking statements.
Metrocall Contact:
Brett Mankey
(703) 660-6677x6231
Arch Contact:
Bob Lougee
(508) 435-6117
DATASOURCE: Arch Wireless, Inc.
CONTACT: Brett Mankey of Metrocall, +1-703-660-6677 ext. 6231; or Bob
Lougee of Arch Wireless, +1-508-435-6117
Web site: http://www.arch.com/
http://www.metrocall.com/