ALEXANDRIA, Va.-Metrocall Inc. announced its shareholders have approved the company’s acquisition of AT&T Wireless Inc.’s Advanced Messaging Division and set the stage for a series C convertible preferred stock offering needed to complete the deal.
The series C preferred stock will be convertible to Metrocall common stock at $10.40 a share to fund $95 million of the acquisition cost.
Metrocall shareholders also approved increasing the authorized common stock total from 80 million to 100 million shares to provide for the series C preferred stock conversion.
