SOURCE: Ulysses Diversified Holdings Corporation

May 25, 2010 02:33 ET

Ulysses Diversified Holdings Corporation Increases Their Authorized Common Shares in Anticipation of Acquisition

WILMINGTON, DE--(Marketwire - May 25, 2010) - Ulysses Diversified Holdings Corp. (PINKSHEETS: UDHC), a diversified holding Company, announces that it has increased the Company's authorized common shares from 100,000,000 shares to 200,000,000 shares.

The Company has taken this action in anticipation of a pending acquisition opportunity that may or may not require the use of all or some of the additional authorized securities as part of the transaction.

The Company will not utilize any of the increased authorized shares for any other purposes other than the aforementioned pending acquisition.

Negotiations have been underway for some time regarding the acquisition with both Companies maintaining a mutually agreed upon nondisclosure status during the due diligence period.

The Company also reports that the current outstanding shares are approximately 99,000,000 common shares, which incorporates roughly 48,000,000 to 50,000,000 of restricted shares and 2,000,000 preferred shares.

Acquisition overview: The Company, keeping with its desire to maintain the lowest possible outstanding share structure, will only utilize the minimum required shares for the acquisition with any non required shares being retired by way of a resolution reducing the authorized common shares with the Secretary of State Delaware.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:

    Media Relations
    Ulysses Diversified Holdings Corporation
    Investor Relations Department
    (800) 402-8770