SOURCE: AltiGen Communications

AltiGen Communications

April 21, 2015 14:11 ET

AltiGen Communications, Inc. Announces Successful Completion of Its Voluntary Stock Option Exchange Program and Issuance of Restricted Stock Options

SAN JOSE, CA--(Marketwired - Apr 21, 2015) - AltiGen Communications, Inc. (OTCQX: ATGN), a leading provider of premise and cloud-based IP-PBX and Contact Center solutions, today announced that it has completed its voluntary stock option exchange program (the "Program") which was previously approved by its Board of Directors on December 19, 2014.

Pursuant to the terms of the Program, an aggregate of 2,864,779 options to purchase common shares of the Company were exchanged for an aggregate of 1,432,390 options. The new options were issued on February 19, 2015 and have an exercise price of $0.35 per share. The remaining 1,432,389 options were cancelled.

Furthermore, the Board also approved the grant of an aggregate of 2,322,799 restricted stock options to certain directors, officers and employees in accordance with the Company's Stock Option Plan. The newly issued stock options have an exercise price of $0.16 per share.

About AltiGen Communications
AltiGen Communications, Inc. (OTCQX: ATGN) is a leading provider of premise and cloud-based IP-PBX and Contact Center solutions. With thousands of customers around the world, AltiGen solutions are designed for high reliability, ease of use, seamless integration to Microsoft infrastructure technologies, and are built on a scalable, open standards platform. AltiGen's worldwide headquarters is in Silicon Valley, California. For more information, call 1-888-ALTIGEN or visit the web site at www.altigen.com.