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EXHIBIT (a)(15)
MOHAWK ACQUISITION CORP. EXTENDS TENDER OFFER FOR PSC INC.
Skaneateles Falls, New York, July 17, 2000--Mohawk Acquisition Corp., a
wholly owned subsidiary of Mohawk Corp. and an affiliate of Welch Allyn Data
Collection, Inc., announced today that it has extended its previously announced
tender offer (the "Offer") for all of the outstanding shares of common stock,
preferred stock and warrants of PSC Inc. ("PSC") (Nasdaq: "PSCX"), until 12:00
midnight, New York City time, on August 10, 2000, unless further extended.
The Offer was originally scheduled to expire at 12:00 midnight, New York
City time, on July 17, 2000. The Agreement and Plan of Merger, dated June 5,
2000, among Mohawk Corp., Mohawk Acquisition Corp. and PSC (the "Merger
Agreement") has been amended to permit the extension of the Offer.
Under the terms of the Merger Agreement, the Offer is conditioned upon
the satisfaction of certain conditions, including the receipt of sufficient
financing, which have not yet been satisfied. Mohawk Corp. has advised PSC that
substantial progress has been made towards obtaining the required financing.
As of 4:00 p.m., New York City time, on Friday, July 14, 2000, 5,144,222
shares of common stock of PSC were validly tendered in connection with the
Offer, comprising approximately 42.1% of the outstanding common stock of PSC (or
approximately 31.4% on a fully diluted basis), including shares tendered
pursuant to a Notice of Guaranteed Delivery. Warrants representing 243,750
shares of PSC common stock were also tendered, comprising approximately 21.1% of
the aggregate number of shares of PSC common stock issuable under outstanding
warrants. No shares of Series A Convertible Preferred Stock have currently been
tendered.
Questions regarding the Offer may be directed to Innisfree M&A
Incorporated, which is acting as Information Agent with respect to the Offer, at
(212) 750-5833 or (888) 750-5834.
