Warrants exercised for casino stock

Friday, Oct. 15, 1999 | 11:34 a.m.

Fitzgeralds Gaming Corp. of Las Vegas said it issued nearly 1.5 million shares of stock to an unidentified party after the exercise of warrants issued in 1995.

The warrants carried an exercise price of 1 cent per share, giving Fitzgeralds proceeds of $14,952. The shares represent a 27 percent stake in the company.

Warrants to purchase an additional 476,600 shares under the same terms expired unexercised, the company said.

Fitzgeralds owns the Fitzgeralds hotel-casino in downtown Las Vegas. Its common stock is not publicly traded; however, the company has publicly traded debt.

archive