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EPIC, the Dividend Company, Initiates an Offer of Redemption of Epic Common and Preferred for RX Healthcare Common Stock
EPIC, the Dividend Company, Initiates an Offer of Redemption of Epic Common and Preferred for RX Healthcare Common Stock.
About this update from Epic Corporation Colo
[{"type":"text","content":"\nEPIC, the Dividend Company, Initiates an Offer of Redemption of Epic Common and Preferred for RX Healthcare Common Stock \n\nEPIC, the Dividend Company, Initiates an Offer of Redemption of Epic Common and Preferred for RX Healthcare Common Stock\n\n\nEpic Completed Is Twelth Consequtive Quarterly Preferred Stock Dividend\n\n\n AUSTIN, TX--(Marketwired - March 31, 2016) -  EPIC Corporation (OTC PINK: EPOR) (\"EPIC\"), and Ronald S. Tucker announced that, \"EPIC's Board of Directors has approved an Offer to redeem shares of its common stock and shares of its Series A 5% Convertible Preferred Stock held in street name. EPIC has completed its twelfth consecutive preferred dividend; and EPIC has reaffirmed the development of the dividend policy for the common shareholders, and its voluntary Third Stock Exchange Offer of common stock for preferred stock.\"EPIC's Board of Directors has approved an offer to redeem shares of its common stock with shares of its Series A 5% Convertible Preferred Stock in an exchange for RX Healthcare Systems, Ltd.'s (RX Healthcare) common stock subject to the following terms and conditions: 1. The common shareholders can voluntarily submit any number of EPIC common or preferred shares on or before June 10, 2016, for exchange in redemption. 2. The number of shares of RX Healthcare's common stock to be issued for each share of EPIC's common stock is to be determined on the date EPIC's transfer Agent receives the EPIC shares to be redeemed. The number of RX Healthcare's shares are to be determined on the average VWAP for 10 trading days prior to receipt of the EPIC shares as follows: a. An average VWAP of <$0.25, one share of EPIC for one share of RX Healthcare common stock; b. An average VWAP of >$0.25 and <$0.50, one share EPIC for two shares of RX Healthcare common stock; and c. An average VWAP of >$0.50, one share of EPIC for three shares of RX Healthcare common stock. 3. For each share of EPIC preferred stock redeemed the preferred shareholder will receive 4 shares of RX Healthcare. The objective of the Voluntary Offer of Redemption is to give EPIC shareholders who are primarily interested in sales growth of the AcuFAB®\nproducts an ability to own RX Healthcare shares (Shares) that are qualified under a Qualified Offering Circular (non-...