Scott’s Liquid Gold Announces Results of Special Meeting of Shareholders and Anticipated Effective Date of Reverse Split, and Other Upcoming Corporate Changes
2024年6月27日 - 5:05AM
ビジネスワイヤ(英語)
Shareholders Overwhelmingly Approve All
Proposals at Recent Special Meeting
Company Currently Anticipates Closing
Previously Announced Transaction with Horizon Kinetics LLC on July
1, 2024, with the Company’s 1-for-20 Reverse Stock Split,
Reincorporation, Name Change and Change in Ticker Symbol Expected
to be Effective on the Same Day
Scott’s Liquid Gold-Inc. (“Scott’s” or the “Company”) (OTC:
SLGD) today announced that, based on a count of the votes cast
at the Company’s Special Meeting of Shareholders, its shareholders
overwhelmingly approved all proposals presented, including the
reverse stock split proposal and the reincorporation proposal. More
than 87% of shares outstanding were represented at the Special
Meeting, and more than 99% of votes were cast in favor of the
proposals.
Following the approvals received at the Special Meeting, Scott’s
and Horizon Kinetics LLC anticipate completing their previously
announced merger on July 1 of this year, subject to the
satisfaction or waiver of all closing conditions. It is anticipated
that, effective prior to commencement of trading on that day,
Scott’s will change its corporate name to Horizon Kinetics Holding
Corporation, its state of incorporation from Colorado to Delaware
and its ticker symbol on OTC Markets to HKHC, and effect its
1-for-20 reverse stock split.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
including statements regarding the merger with Horizon Kinetics,
including the expected closing date. All statements other than
statements of historical facts contained herein, including
statements on the anticipated effective date of the merger, reverse
stock split, reincorporation, name change and ticker symbol change,
and other statements regarding our, Horizon Kinetics’ or the
combined company’s future financial position and results of
operations, liquidity, business strategy and plans and objectives
of management for future operations, are forward-looking
statements. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “is likely,” “will,” “expect” and similar expressions,
as they relate to us, Horizon Kinetics, or the combined company,
are intended to identify forward-looking statements. We have based
these forward-looking statements largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy and financial needs as a combined
company.
Important factors that could cause actual results to differ from
those in the forward-looking statements include: the possibility
that the merger does not close, including due to failure to satisfy
closing conditions, or does not close on July 1, 2024; the
possibility that the Company will not effect its reverse stock
split, reincorporation, name change and/or ticker symbol change on
July 1, 2024; the possibility that anticipated benefits from the
merger will not be realized, or will not be realized within the
expected time period; and disruption from the merger making it more
difficult to maintain business and operational relationships; among
other risks.
Further information on risks we face is contained in our filings
with the SEC, including our Form 10-K for the fiscal year ended
December 31, 2023 and our Form 10-Q for the fiscal quarter ended
March 31, 2024, and the definitive proxy statement dated May 13,
2024. Any forward-looking statement made by us herein speaks only
as of the date on which it is made. Factors or events that could
cause our actual results to differ may emerge from time to time,
and it is not possible for us to predict all of them. We undertake
no obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
About Horizon Kinetics
LLC
Horizon Kinetics LLC, through its subsidiary investment manager,
Horizon Kinetics Asset Management LLC, is an investment advisory
firm with approximately $7.1 billion assets under management as of
March 31, 2024. Horizon Kinetics provides independent proprietary
research and investment advisory services for long-only and
alternative value-based investing strategies. The firm has offices
in New York City, White Plains, New York, and Summit, New Jersey.
For more information, please visit
http://www.horizonkinetics.com.
About Scott’s Liquid
Gold-Inc.
Scott’s Liquid Gold-Inc. exists to positively impact consumers’
lives in the markets it serves while creating shareholder value.
Scott’s develops, markets, and sells high-quality, high-value
household products to mass merchandisers, supermarkets, hardware
stores, and e-commerce retailers. For more information, please
visit http://www.slginc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240626432302/en/
Investor Relations Contact: David Arndt President &
Chief Financial Officer 303.576.6027