Harris & Harris offering rights

June 27, 2002 — Harris & Harris Group, a publicly traded venture capital company that invests in small tech, is seeking June 28 as the effective date for a rights offering, according to a company release, which would make the rights eligible for trading on July 1.

Assuming the offering is approved by the Securities & Exchange Commission, existing shareholders of Harris & Harris, which trades on the Nasdaq under the symbol TINY, will be entitled to purchase one share of common stock at $2.25 for each three shares they own on June 28. The stock closed at $2.80 the last three trading sessions.

The rights offering gives current shareholders the opportunity to avoid diluting their holdings while the company raises more money. Alternatively, shareholders will be able to sell their rights for a limited time under the symbol TINYR. The offering is limited to 2,954,743 shares. There are currently 8,864,231 common shares outstanding.

According to filings with the SEC, Harris & Harris will also be seeking to change its name to “Tiny Technology Venture Capital Inc.” pending shareholder approval. In March, the company initially stated it would seek to change its name to “Small-Technology Venture Capital Inc.” Also in March, the company changed its stock symbol from HHGP to TINY.


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