Holders that exercise their rights, if accepted, will receive the components of the units (one share of common stock and one warrant to purchase 0.924532845 shares of common stock per unit) after the close of the rights offering. Nephros will not issue and holders will not receive units in the rights offering.
Nephros stockholders who exercise their basic subscription privilege in full may also exercise an over-subscription privilege to subscribe for additional units not subscribed for by other stockholders at the same subscription price of $0.02 per unit. If there is an insufficient number of units available to fully satisfy all over-subscription privilege requests, the available units will be allocated proportionately among stockholders who exercise their over-subscription privileges based on the number of units each such stockholder subscribed for under the basic subscription privilege.
The subscription rights will expire if they are not exercised by 5:00 p.m., Eastern Time, on February 28, 2011, unless Nephros extends the subscription period in its sole discretion, but in no event by more than 60 days from the date of the prospectus contained in the registration statement.
The prospectus contains a description of the rights offering and other information. Stockholders are urged to read the prospectus carefully. Morrow & Co., LLC is the information agent for the rights offering. Stockholders may direct questions regarding the rights offering or requests for additional copies of the prospectus or other offering materials to Morrow & Co., LLC at (800) 414-4313, 407 West Avenue, Stamford, Connecticut 06902. The rights
|SOURCE Nephros, Inc.|
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