Rhapsody Acquisition Corp. Announces Record Dare for Special Meeting of Stockholders
New York, NY, June 30, 2008 - Rhapsody Acquisition Corp. (OTC BB: RPSD; RPSDW; RPSDU) ("Rhapsody"), a public company organized for the purpose of acquiring an operating business, announced today that stockholders of record as of July 3, 2008 (the "Record Date") will be invited to attend Rhapsody's special meeting of stockholders to vote on, or submit a proxy to vote on, among other matters, a proposal to approve the Agreement and Plan of Merger, dated as of February 19, 2008, and amended on May 15, 2008, among Rhapsody, Primoris Corporation ("Primoris") and certain of the stockholders of Primoris, which, among other things, provides for the merger of Primoris into Rhapsody. The full meeting agenda will be detailed in the proxy statement to be mailed to all stockholders of record on or about July 10, 2008. The special meeting is tentatively scheduled to be held on July 30, 2008, but may be changed to another date upon the registration statement referred to below being declared effective.
Ensuring Your Vote is Counted
In advance of the Record Date, Rhapsody advises holders of its securities to move these securities into accounts which do not permit the lending of securities, so called cash accounts or segregated accounts, and out of accounts that permit the lending of securities, such as margin accounts. These steps are designed to ensure that votes related to common and common shares beneficially owned by stockholders are properly counted. Beneficial owners of common shares that have been lent out (either with or without the beneficial owners' knowledge) are not permitted to vote those shares.
About Primoris Corporation
Headquartered in Lake Forest, California, Primoris is a holding company of various subsidiaries which cumulatively form one of the largest specialty contractors and engineering companies in the Western United States primarily serving the growing power and energy sectors. Primoris provides a wide range of construction, fabrication, maintenance and replacement services, as well as engineering services to major public utilities, petrochemical companies, energy companies, municipalities and other customers.
About Rhapsody Acquisition Corp.
Rhapsody was incorporated in Delaware on April 24, 2006 as a blank check company whose objective is to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Rhapsody's initial public offering was declared effective October 3, 2006 and was consummated on October 10, 2007, receiving net proceeds of $38.8 million through the sale of 5.2 million units at $8.00 per unit. Each unit was comprised of one share of Rhapsody common stock and one warrant with an exercise price of $5.00. As of May 31, 2008, Rhapsody held approximately $41.2 million in a trust account maintained by an independent trustee, which will be released upon the consummation of the merger.
Not a Proxy Statement
This press release is not a proxy statement or a solicitation of proxies from the holders of common stock of Rhapsody and does not constitute an offer of any securities of Rhapsody for sale. IN CONNECTION WITH THE PROPOSED MERGER, RHAPSODY HAS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ, A REGISTRATION STATEMENT THAT CONTAINS A PRELIMINARY PROXY STATEMENT/PROSPECTUS. INVESTORS AND SECURITY HOLDERS ARE ALSO ADVISED TO READ, WHEN AVAILABLE, THE DEFINITIVE PROXY STATEMENT/PROSPECTUS THAT WILL BE MAILED TO ALL STOCKHOLDERS OF RECORD BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT RHAPSODY AND PRIMORIS. Any solicitation of proxies will be made only by Rhapsody's definitive proxy statement/prospectus. Investors and security holders may obtain a free copy of the definitive proxy statement/prospectus and other documents filed by Rhapsody at the Securities and Exchange Commission's web site at www.sec.gov.
Rhapsody Acquisition Corp.
Eric S. Rosenfeld, Chairman & CEO
The Equity Group Inc.
Senior Vice President