iPrint and Wood Associates Stockholders Approve Merger
Press release from the issuing company
REDWOOD CITY, Calif., Oct. 25, 2001 -- iPrint Technologies, Inc., the leading online printing technology and infrastructure provider, announced today that its stockholders have approved its proposal related to the company's merger transaction with Wood Associates.
At a special meeting of stockholders held on October 24, 2001, iPrint reported that 93% of its outstanding common shares were represented in person or by proxy, and 76.5% of the total outstanding common shares voted in favor of the iPrint merger proposal. This proposal is more fully described in a joint proxy statement/prospectus filed by iPrint with the SEC.
On October 19, 2001, Wood Associates held a special meeting of its stockholders and reported that 99.7% of its closely held outstanding common shares voted in favor of the merger proposal.
Subject to the parties satisfying their respective closing conditions, which are more fully described in the joint proxy statement/prospectus, the companies currently contemplate that the closing of the merger will occur on or about October 31, 2001. Upon closing, holders of Wood common stock will receive 0.86 of a share of iPrint common stock in exchange for each share of Wood common stock they own, as adjusted for any stock splits, combinations, stock dividends, and the like.
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