Business
Tix Corporation Rejects Baker Street Capital, L.P.'s Non-Binding Conditional Expression of Interest
Tix Corporation Rejects Baker Street Capital, L.P.'s Non-Binding Conditional Expression of Interest.
About this update from Tix Corporation
[{"type":"text","content":"STUDIO CITY, CA, May10, 2011 - Tix Corporation (\"Tix\") (OTCQX: TIXC), a leading entertainment company providing discount ticketing services and branded event merchandising, today announced that its Board of Directors, based on the recommendation of a special committee of the Board of Directors, has unanimously rejected the non-binding conditional expression of interest by Baker Street Capital, L.P. (\"Baker Street\") to acquire all of the shares of common stock of Tix not owned by Baker Street. The Board, based on the recommendation of the Special Committee, has determined that the Baker Street non-binding conditional expression of interest is not in the best interests of Tix or its stockholders. Tix also announced that its Board of Directors had approved amended and restated bylaws. The amended and restated bylaws make a number of changes to the bylaws of Tix, including the adoption of a bylaw relating to stockholder action by consent in lieu of a meeting and the adoption of an advance notice bylaw requiring stockholders to provide advance notice of any nominations or other business stockholders wish to present at any annual meeting of stockholders. For purposes of the first annual meeting of stockholders following the adoption of the amended and restated bylaws, to be timely, a stockholder's notice must be delivered to the secretary of Tix at the principal executive offices of Tix not later than the close of business on the tenth calendar day following the public announcement of the annual meeting. A complete copy of the amended and restated bylaws may be found on the Company website at www.tixcorp.com or at www.otcqx.com. About TIX CorporationTix Corporation is an entertainment company providing discountticketing services, and event and branded merchandising. It currently operates eleven discount ticketstores in Las Vegas under the Tix4Tonight marquee, which offer up to a 50percent discount for same-day shows, concerts, attractions and sporting events,as well as discount reservations for d...