Zunicom, Inc. Announces Entry into Cash-Out Merger Agreement

MORGANVILLE, N.J., Aug. 5, 2021 /PRNewswire/ -- Zunicom, Inc., a Texas corporation, (the "Company"), announced today its entry into a Merger Agreement, dated August 3, 2021 (the "Merger Agreement"), by and among Zunicom Holdings, Inc., a Texas corporation (the "Parent"), Ajax Merger Sub, Inc., a Texas corporation and the Company, pursuant to which the Company will become a wholly-owned subsidiary of the Parent, and the minority common stock shareholders of the Company will receive the merger consideration of $0.02 per share.

On August 3, 2021, the Merger Agreement and the transactions contemplated thereby were approved by the board of directors of the Company. Parent that holds 57% of the outstanding capital stock of the Company has approved the Merger. A Certificate of Merger will be filed with the Secretary of State of the State of Texas which will provide August 16, 2021 as the "Effective Time" of the Merger.

An Informaion Statement containing relevant information about the Merger will be mailed to all shareholders of the Company as of the Effective Time of the Merger. The Information Statement also contains instructions to the minority shareholders on how to surrender their share certificates in exchange for the merger consideration (net of any applicable withholding taxes).

Forward Looking Statement Disclaimer

This release contains a number of forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements."  Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expresses or implied by such forward-looking statements.  In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking.  The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.

View original content:https://www.prnewswire.com/news-releases/zunicom-inc-announces-entry-into-cash-out-merger-agreement-301349501.html

SOURCE Zunicom, Inc.

[ Back To TMCnet.com's Homepage ]