600 Mountain Avenue
Murray Hill, NJ 07974
Phone: (908) 582-8500
Patricia F. Russo, President/CEO; Mike Quigley, COO
Bank of New York, New York, NY 10286
Fiscal Year End: September 30
Edgar Filing Status: Current EDGAR Filer
Primary State of Incorporation: Delaware
Lucent Technologies was a technology company composed of what was formerly AT&T
Technologies, which included Western Electric and Bell Labs. It was spun-off from AT&T
on September 30, 1996.
Lucent merged with Alcatel SA of France, to form Alcatel-Lucent on December 1st, 2006
On December 10, 2004, Lucent Technologies Inc. issued 200 million warrants, each warrant entitling its holder to purchase one share of the Lucent's common stock at a price of $2.75 until December 10, 2007 (after which date the warrants may not be exercised).
Warrant holders who exercised their warrants for Lucent shares prior to consummation of the Merger received 0.1952 of an ADS (American Depositary Shares) for each common share of Lucent that they held as a result of the exercising of the warrants and a cash payment in lieu of any fractional ADS. Each ADS represents one ordinary share of the combined company. The combined company's ordinary shares will be traded on the Euronext Paris and the ADS will be traded on the New York Stock Exchange.
Holders of Lucent warrants that have not been exercised prior to the consummation of the Merger can still exercise their warrants until December 10, 2007. After the Merger and prior to December 10, 2007, upon payment of the $2.75 exercise price, warrant holders who exercise their warrants would receive the same consideration they would have received had they exercised their warrants immediately prior to the Merger (see example below). This consideration consists of 0.1952 of an ADS for each exercised warrant and a cash payment in lieu of any fractional ADS that would result from multiplying 0.1952 by the number of exercised warrants. The merger agreement provides that no fractional ADSs shall be issued in the Merger, but that the exchange agent will provide a cash payment in lieu of such fractional ADSs.
Example: the holder of 100 warrants after the consummation of the Merger (and prior to December 10, 2007) would be entitled to receive 100 x 0.1952 or 19.52 ADSs upon payment of the exercise price of $275 (100 x $2.75 exercise price). Because no fractional ADS will be issued, the warrant holder would receive 19 ADSs and a cash payment in lieu of the remaining 0.52 of an ADS. Had this same holder exercised these warrants prior to the consummation of the merger, the warrant holder would have received 100 shares of Lucent common stock which would then have been converted into the right to receive 19 ADSs of the combined company and a cash payment in lieu of the remaining 0.52 of an ADS