SUPPLEMENT
(To Definitive Proxy Statement Of
ARC Wireless Solutions, Inc.
Dated June 27, 2002)
ARC WIRELESS SOLUTIONS, INC.
This supplement is being sent to stockholders of record of ARC Wireless
Solutions, Inc. as of June 19, 2002. This supplement corrects the information
described below that is contained in the "Stock Ownership Of Directors And
Principal Shareholders" section of our definitive proxy statement, dated June
27, 2002, in connection with our August 8, 2002 stockholders meeting. Except as
set forth in this supplement, there are no changes to the proxy statement.
Based on information available to the Company, the number of shares owned
as of June 19, 2002 by the following three beneficial owners of more than five
percent of our common stock, none of whom is an officer or director of the
Company, is corrected as follows:
Name and Address Number of Shares
of Beneficial Owner Beneficially Owned (1) Percent of Class
- ------------------- ---------------------- ----------------
Barry Nathanson 11,798,559 7.7%
6 Shore Cliff Place
Great Neck, NY 11023
Hudson River Investments, Inc. 12,718,225 8.3%
c/o Nemazee Capital Corp.
720 Fifth Avenue
New York, NY 10019
Evansville Limited 10,117,860 6.6%
c/o Quadrant Management Inc.
720 Fifth Avenue, 9th Floor
New York, NY 10019
- ------------------
(1) "Beneficial ownership" is defined in the regulations promulgated by the
U.S. Securities and Exchange Commission as having or sharing, directly or
indirectly (1) voting power, which includes the power to vote or to direct
the voting, or (2) investment power, which includes the power to dispose or
to direct the disposition, of shares of the common stock of an issuer. The
definition of beneficial ownership includes shares underlying options or
warrants to purchase common stock, or other securities convertible into
common stock, that currently are exercisable or convertible or that will
become exercisable or convertible within 60 days. Unless otherwise
indicated, the beneficial owner has sole voting and investment power.
- ------------------
In addition, as of June 19, 2002, there were 153,312,274 shares of our
common stock outstanding, which is 794 shares less than previously reported.
The date of this supplement is July 2, 2002.
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