Re: IS TODAY THE DAY?
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One mile of Ocean Front, One Incredible Real Estate Development
Multi-Billion Dollar Agreement Signed With Oman
Message: Re: IS TODAY THE DAY?
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This is just part of the full description that was released by Omagine to the SEC filing. If you go to the Securities and Exchange website and look for Omagine's current filings, you will find the full text.
Fractional Rights resulting from the calculation of the number of Rights due to be distributed on an aggregate basis as to any Record Shareholder will be eliminated by rounding up to the nearest whole number of Rights. Pursuant to this offering (the “Rights Offering”), each Right will entitle you to purchase one (1) Common Share at a subscription price (“Subscription Price”) of $1.25 per share (the “Basic Subscription Right”) and an over-subscription privilege at the same Subscription Price per share. If you timely and fully exercise your Basic Subscription Right with respect to all the Rights you hold and other Record Shareholders do not exercise their Basic Subscription Right in full, you may also subscribe for an unlimited additional whole number of Common Shares pursuant to the over-subscription privilege, subject to availability and allocation, provided that (i) no person, who as of the Record Date owns less than (a) 4.99% or (b) 9.99% of the Common Shares, may thereby acquire, together with its affiliates, beneficial ownership of (a) 4.99% or more, or (b) 9.99% or more of the Common Shares, and (ii) the aggregate purchase price of all Common Shares purchased in this Rights Offering may not exceed $4,002,750. If over-subscription requests exceed the number of shares available, we will allocate the available shares pro rata among the Record Shareholders exercising the over-subscription privilege in proportion to the number of shares each such Record Shareholder elected to purchase pursuant to the over-subscription privilege, relative to the aggregate number of shares requested in all of the over-subscription requests received from Record Shareholders. For additional details regarding the pro rata allocation process, see “Questions and Answers Relating to this Rights Offering - What is the over-subscription privilege?” If you properly exercise your over-subscription privilege for a number of shares that exceeds the number of shares allocated to you, any excess Subscription Payments received by the Subscription Agent will be returned to you as soon as practicable, without interest or penalty, following the expiration of this Rights Offering. A Record Shareholder may exercise all, some or none of its Rights to purchase Common Shares.
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