Corporate News

ExpressJet (NYSE: XJT) announced that it filed a definitive proxy statement with the Securities and Exchange Commission pursuant to Section 14(a) of the Securities Exchange Act of 1934 requesting shareholder approval for a 1:10 reverse stock split for its common shares. The reverse stock split, as previously announced, is part of ExpressJet's continuing efforts toward improving liquidity for its stockholders. ExpressJet will hold a special stockholder meeting in Houston, Texas on Wednesday, October 1 at 10:00 AM Central to seek approval for the transaction.

As a result of the reverse stock split, every 10 shares of ExpressJet common stock will be combined into one share of ExpressJet common stock and be traded under a new CUSIP. The reverse stock split affects all shares of common stock and stock options of ExpressJet outstanding immediately prior to the effective time of the reverse stock split. ExpressJet will pay cash in lieu of fractional shares, as required.

After completing the transaction, ExpressJet expects to have 21,691,018 shares outstanding and approximately $68.5 million in debt remaining outstanding, primarily related to its 11.25% 2023 convertible notes.
Sign up at EasyStockAlerts.com To Be Alerted To Your Stock News Today!

EZCORP, Inc. (Nasdaq: EZPW) announced that it has entered into a definitive agreement to acquire the assets of eleven pawnshops located in Las Vegas and Henderson, Nevada that operate under the Pawn Plus and ASAP Pawn brands.

EZCORP will acquire approximately $6.6 million of pawn loans, $2.2 million of inventory, $1.2 million of auto title loans and all other operating assets at the eleven locations for a total purchase price of $34.5 million. Half of the purchase price will be paid with the issuance of EZCORP's Class A Non-voting Common Stock and half in cash. The acquisition is expected to close by early November.

Rick's Cabaret (NASDAQ: RICK) said it has completed its purchase of the Scores-Las Vegas adult nightclub after renegotiating terms of the acquisition.

Under the final terms of the purchase agreement Rick's Cabaret acquired the club and an option to purchase the land where it is located for $12 million in cash, a two-year $3 million promissory note at eight percent interest with the initial payment due in April 2009, and issuance of 200,000 restricted shares of Rick's Cabaret common stock.

The agreement contains a "put" clause under which the seller, DI Food & Beverage of Las Vegas, LLC, shall have the right after seven months to have Rick's Cabaret purchase up to 6,250 shares per month at a price equal to $20 per share, until 150,000 of the shares have been purchased for an aggregate of $3 million.

Rick's Cabaret: Rick's Cabaret International, Inc. operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations

Titan Tire Corporation, a subsidiary of Titan International Inc. (NYSE: TWI), will implement a price increase on Titan, Goodyear and General branded off-the-road, farm and construction tires, effective October 1, 2008.

The increase of up to 10% will offset rising raw materials, such as natural and synthetic rubber, steel, carbon black and energy. Certain tire prices may rise in excess of 10% due to realignment and positioning of the product.

Titan International Inc., a holding company, owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer (including all terrain vehicles) applications.
Sign up at EasyStockAlerts.com To Be Alerted To Your Stock News Today!

Rosetta Genomics, Ltd. (NASDQ: ROSG) announced that the results of a study conducted by its scientists describing the identification of microRNA biomarkers in blood serum, have been published online in the peer-reviewed journal PLOS One. The findings demonstrate that microRNAs have the potential to be used as clinical biomarkers for a wide range of indications in cancer and women's health.

Using its proprietary extraction and quantification methods, Rosetta Genomics is now advancing the development of a blood-based test which will utilize microRNAs to detect patients with colon cancer.

Rosetta Genomics is a leader in the field of microRNA.
Sign up at EasyStockAlerts.com To Be Alerted To Your Stock News Today!