United Park City Mines has modified the terms of the company's previously announced rights offering.
Under the modified terms of the offering, each stockholder of record on the record date will receive two rights, evidenced by a subscription warrant to be mailed to stockholders shortly after the record date.Each right will entitle the holder to subscribe for one additional share of the company's common stock for 25 cents per share. The rights will not be transferable and will expire and be void if not exercised on or before the expiration date of the offering.
Neither the record date nor the expiration date have been determined, but the board of directors estimates that the record date will be in mid-February and the expiration date will be in late March. The dates will be announced when they are fixed, company officials said.