Replies to post #12879 on ((RAIN)) Rainmakers-Island

[The Rainmaker]

No cash changed hands. A private company reverse merged into SPDV I believe. SpaceDEv shareholders got no cash did they?

Correction to Release: SpaceDev Acquired by Sierra Nevada Corporation

POWAY, CA -- (Marketwire) -- 12/16/08 -- SpaceDev, Inc. (OTCBB: SPDV) announced earlier today that privately held Sierra Nevada Corporation (SNC) has completed the acquisition of SpaceDev by way of a merger of a wholly owned subsidiary of SNC into SpaceDev.

It was reported in the release distributed early this morning that a total of 38,347,576 shares of SpaceDev common stock were voted on the merger proposal, of which 94.25%, or 28,733,232 shares, voted in favor of the merger. As a point of clarification, while 38,347,476 shares of SpaceDev common stock were present at the meeting either in person or by proxy, 30,485,731 voted on the merger agreement, of which 94.25%, or 28,733,232 shares, voted in favor of the merger. The holders of outstanding SpaceDev preferred stock also approved the merger.