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Mace Security International (OTCQB:MACE) has completed its merger with W Electric Intermediate Holdings, , effectively becoming a private company. The merger, executed on December 6, 2024, results in MACE no longer being quoted on the OTC QB Market.
Under the merger agreement, shareholders will receive $0.015777 in cash per share plus potential additional contingent consideration. Equiniti Trust Company, has been appointed as paying agent to handle the distribution of Letters of Transmittal to registered shareholders for processing their compensation.
Shareholders with shares registered through nominees should contact their brokers regarding payment procedures.
Mace Security International (OTCQB:MACE) ha completato la sua fusione con W Electric Intermediate Holdings, diventando effettivamente un’azienda privata. La fusione, eseguita il 6 dicembre 2024, comporta che MACE non sarà più quotata nel mercato OTC QB.
Secondo l’accordo di fusione, gli azionisti riceveranno $0.015777 in contanti per azione più una potenziale considerazione contingente aggiuntiva. Equiniti Trust Company è stata designata come agente di pagamento per gestire la distribuzione delle Lettere di Trasmissione agli azionisti registrati per la lavorazione del loro compenso.
Gli azionisti con azioni registrate tramite nominativi dovrebbero contattare i loro broker riguardo le procedure di pagamento.
Mace Security International (OTCQB:MACE) ha completado su fusión con W Electric Intermediate Holdings, convirtiéndose efectivamente en una empresa privada. La fusión, ejecutada el 6 de diciembre de 2024, resulta en que MACE ya no estará cotizada en el mercado OTC QB.
De acuerdo con el acuerdo de fusión, los accionistas recibirán $0.015777 en efectivo por acción más una posible consideración contingente adicional. Equiniti Trust Company ha sido designada como agente de pago para manejar la distribución de las Cartas de Transmisión a los accionistas registrados para procesar su compensación.
Los accionistas con acciones registradas a través de nominativos deben contactar a sus corredores respecto a los procedimientos de pago.
Mace Security International (OTCQB:MACE)는 W Electric Intermediate Holdings와의 인수를 완료하여 사실상 사기업이 되었습니다. 이 인수는 2024년 12월 6일에 실행되었으며, MACE는 더 이상 OTC QB 시장에 상장되지 않습니다.
합병 계약에 따라 주주들은 주당 $0.015777 현금과 함께 추가적인 조건부 보상을 받을 수 있습니다. Equiniti Trust Company가 지급 대행자로 지정되어 등록된 주주들에게 보상 처리를 위한 전송 서신을 배포하는 일을 맡고 있습니다.
지명인을 통해 주식이 등록된 주주는 지불 절차에 대해 중개인에게 문의해야 합니다.
Mace Security International (OTCQB:MACE) a terminé sa fusion avec W Electric Intermediate Holdings, devenant ainsi une entreprise privée. La fusion, effectuée le 6 décembre 2024, entraîne que MACE ne soit plus cotée sur le marché OTC QB.
Conformément à l’accord de fusion, les actionnaires recevront 0,015777 $ en espèces par action ainsi qu’une éventuelle considération contingente supplémentaire. Equiniti Trust Company a été désignée comme agent de paiement pour gérer la distribution des lettres de transmission aux actionnaires enregistrés pour le traitement de leur compensation.
Les actionnaires ayant des actions enregistrées par le biais de mandataires doivent contacter leurs courtiers concernant les procédures de paiement.
Mace Security International (OTCQB:MACE) hat ihre Fusion mit W Electric Intermediate Holdings abgeschlossen und ist damit faktisch ein Privatunternehmen geworden. Die Fusion wurde am 6. Dezember 2024 vollzogen, was bedeutet, dass MACE nicht mehr an der OTC QB Markt notiert ist.
Gemäß dem Fusionsvertrag erhalten die Aktionäre 0,015777 $ in bar pro Aktie sowie eine potenzielle zusätzliche Bedingung. Die Equiniti Trust Company wurde als Zahlungsagent eingesetzt, um die Verteilung der Übertragungsschreiben an registrierte Aktionäre zur Abwicklung ihrer Vergütung zu übernehmen.
Aktionäre mit über Träger registrierten Aktien sollten sich bezüglich der Zahlungsmodalitäten an ihre Broker wenden.
Positive
- Company shareholders will receive immediate cash payment of $0.015777 per share
- Additional contingent consideration may be available to shareholders
- Professional paying agent (Equiniti Trust) appointed to handle shareholder compensation
Negative
- Delisting from OTC QB Market reduces stock liquidity
- Low per-share payment of $0.015777 indicates minimal valuation
- Shareholders lose potential future upside as company goes private
CLEVELAND, OH / ACCESSWIRE / December 6, 2024 / Mace Security International (OTCQB:MACE) (the “Company”) announces the completion of the merger (the “Merger”) contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) dated October 12, 2024 by and among W Electric Intermediate Holdings, LLC, a Delaware limited liability company (“Parent”), Mace Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Parent (“Merger Sub”), the Company and a representative of the Company’s stockholders (the “Stockholders’ Representative”). Charles A. Gaddis was appointed as the Stockholders’ Representative at the Special Meeting of its stockholders held on December 3, 2024.
Pursuant to the Merger Agreement, Merger Sub merged with and into the Company, effective December 6, 2024, with the Company being the surviving company. As a result of the Merger, the Company becomes a private company wholly owned by Parent and the shares of the Company will no longer be quoted on the OTC QB Market following the close of trading on December 6, 2024.
Under the terms of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), (i) each share of common stock of the Company issued and outstanding immediately prior to the Effective Time (other than the Excluded Shares (as defined in the Merger Agreement), and the Dissenting Shares (as defined in the Merger Agreement), if any) was cancelled and ceased to exist in exchange for the right to receive US $0.015777 in cash per share without interest and potential additional contingent consideration pursuant to the terms of the Merger Agreement (the “Per Share Consideration”). In accordance with the Merger Agreement, Equiniti Trust Company, LLC, as paying agent, has been engaged to distribute Letters of Transmittal to registered holders of Company shares. Registered holders of Company shares will be required to submit a duly completed Letter of Transmittal and the share certificate(s) and/or direct registration system advice(s) representing their Company shares to Equiniti Trust Company, LLC in order to receive the Per Share Consideration under the Merger Agreement. If you have any questions or require further information about the procedures to complete your Letter of Transmittal, please contact Equiniti Trust Company, LLC at 718-921-8317 or toll-free (within North America) at 877-248-6417 for further information. Shareholders whose Company shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee regarding the receipt of the Per Share Consideration.
About Mace Security International, Inc.
Mace® Security International, Inc. (MACE) is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the Company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand – the original trusted brand of defense spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand, KUROS!® Brand personal safety products, Vigilant® Brand alarms, and Tornado® Brand pepper spray and stun guns. MACE® distributes and supports Mace® Brand products through mass market retailers, wholesale distributors, independent dealers, Amazon.com, Mace.com, and other channels. For more information, visit www.mace.com.
Forward-Looking Statements
Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. When used, the words or phrases “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “projected,” “intend to” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to several known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance, or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, (a) general economic and business conditions, including the impact of the COVID-19 pandemic and other possible pandemics and similar outbreaks; (b) competition; (c) potential changes in customer spending; (d) acceptance of our product offerings and designs; (e) the variability of consumer spending resulting from changes in domestic economic activity; (f) a highly promotional retail environment; (g) any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates, as well as other significant accounting estimates made in the preparation of our financial statements; (h) the impact of current and potential hostilities in various parts of the world, including but not limited to the war which resulted from Russia’s invasion of Ukraine, as well as other geopolitical or public health concerns; (i) the impact of international supply chain disruptions and delays; (j) the impact on the Company of changes in U.S. Federal and State income tax regulations; (k) the impact of inflation and the ability of the Company to pass on rising prices to its customers and (l) the ability of the Company to close the Agreement and Plan of Merger dated October 12, 2024. You are urged to consider all such factors. Because of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. Mace Security International, Inc. assumes no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.
Contact:
Investor Relations
InvestorRelations@mace.com
SOURCE: Mace Security International, Inc.
View the original press release on accesswire.com
FAQ
What is the cash payment per share for Mace Security International (MACE) shareholders in the merger?
Shareholders will receive $0.015777 in cash per share, plus potential additional contingent consideration under the merger agreement terms.
When will Mace Security International (MACE) be delisted from the OTC QB Market?
MACE will be delisted from the OTC QB Market following the close of trading on December 6, 2024.
How do MACE shareholders claim their merger compensation?
Registered shareholders must submit a completed Letter of Transmittal and their share certificates to Equiniti Trust Company, Shareholders with broker-held shares should contact their nominees.
Who is the acquiring company in the MACE merger?
W Electric Intermediate Holdings, is acquiring Mace Security International through its wholly-owned subsidiary, Mace Merger Sub, Inc.
