SHANGHAI--(BUSINESS WIRE)--Mar. 20, 2015--
Tiger Media, Inc. (“Tiger Media” or the “Company”) (NYSE MKT: IDI), a
Shanghai-based multi-platform media company, announced today that the
previously approved reverse stock split of the Company’s ordinary
shares, par value $0.0001 per share, at a ratio of one-for-five (the
“Stock Split”), became effective after the close of business on March
19, 2015. The Company’s common stock will begin trading on a
split-adjusted basis at the open of business on the morning of March 20,
2015. The Company’s common stock will continue to trade on the NYSE MKT
under the symbol IDI with a new CUSIP of 88674Y 105. The ability to
trade in the Company’s common stock should be unaffected by the Stock
Split. Also, the Company announced the completion of its domestication
as a Delaware corporation (the “Domestication”), effective before the
open of business on March 20, 2015. The Company expects to complete the
previously announced acquisition of The Best One, Inc. after the close
of business on Friday.
About Tiger Media, Inc.
Tiger Media is a leading Shanghai-based multi-platform media company in
China which provides advertising services in the out-of-home advertising
industry, including iScreen Outdoor LCD screens, billboards and street
furniture. Tiger Media’s network of street level LCD screen displays,
which captivate eye-level awareness, is complemented by outdoor
billboards which are mostly built on rooftops with good visibility from
far distances. Tiger Media’s network attracts advertising clients from a
wide range of industries including telecommunications, insurance and
banking, automobile, electronics and fast moving consumer goods. Learn
more at www.tigermedia.com.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements," as that term
is defined under the Private Securities Litigation Reform Act of 1995
(PSLRA), which statements may be identified by words such as "expects,"
"plans," "projects," "will," "may," "anticipate," "believes," "should,"
"intends," "estimates," and other words of similar meaning. Such forward
looking statements include statements about the expected completion of
the Merger. There are a number of important factors that could cause
actual results or events to differ materially from those indicated by
such forward-looking statements, including: the ability of each of Tiger
Media and TBO to satisfy the closing conditions and consummate the
transaction, and the other risks set forth in Tiger Media’s Annual
Report on Form 20-F, filed with the SEC on March 31, 2014, and Tiger
Media’s proxy statement for the Special Meeting of Ordinary Shareholders
held on March 17, 2015, filed with the SEC on February 13, 2015, as well
as the other factors described in the filings that Tiger Media makes
with the SEC from time to time.
The forward-looking statements contained in this press release speak
only as of the date the statements were made, and we do not undertake
any obligation to update forward-looking statements, except as required
under applicable law. We intend that all forward-looking statements be
subject to the safe-harbor provisions of the PSLRA.
Source: Tiger Media, Inc.
Tiger Media, Inc.
Investor Relations:
Joshua Weingard,
305-575-4602
ir@tigermedia.com