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Fuling Global Inc. (NASDAQ: FORK) has successfully completed its merger with Fuling MergerCo Inc., following shareholder approval on November 20, 2020. As a result, Fuling Global has become a wholly-owned subsidiary of Fuling ParentCo Inc., and its shares will be delisted from NASDAQ. Shareholders will receive $2.35 in cash per share, with specific conditions for dissenting shares. Trading was suspended on November 23, 2020, and Fuling Global intends to suspend its SEC reporting obligations. The merger aims to streamline operations within the environmentally-friendly disposable products industry.
Fuling Global Inc. (NASDAQ: FORK) announced that its shareholders approved a merger agreement at an extraordinary general meeting on November 20, 2020. The approval included the merger with Fuling ParentCo Inc. and Fuling MergerCo Inc., making Fuling Global a privately held company. Approximately 95.25% of the shares present voted in favor, with a quorum of 72.71% of total issued voting shares. The merger is expected to complete promptly, after which the company's shares will be delisted from NASDAQ.
Fuling Global Inc. (NASDAQ: FORK) announced an extraordinary general meeting (EGM) for shareholders on November 20, 2020, to vote on a proposed merger. Under the merger agreement, Fuling will become a wholly-owned subsidiary of Fuling ParentCo Inc. and cease to exist as a publicly traded company. The board has unanimously approved the merger and recommends shareholders vote in favor of it. Registered shareholders as of October 20, 2020, can attend and vote at the EGM. Additional details are available in the SEC filings.
Fuling Global Inc. (Nasdaq: FORK) announced a definitive Merger Agreement with Fuling ParentCo Inc. and Fuling MergerCo Inc. The merger will result in Fuling Global becoming a wholly-owned subsidiary of Parent in an all-cash transaction. Shareholders will receive $2.35 per share, a 15.2% premium over the last closing price prior to the offer. The merger is subject to shareholder approval and expected to close in Q4 2020. The Rollover Shareholders, owning 70.4% of shares, have agreed to vote in favor.
Fuling Global Inc. (Nasdaq: FORK) announced the approval of its subsidiary, Fuling Food Packaging Indonesia Co., Ltd., as a bonded manufacturing facility in Indonesia. A formal inauguration ceremony was held in Semarang City, attended by over 50 government leaders and guests. This facility, Fuling's third and largest outside of Mainland China, spans nearly 194,000 square feet and began production in February 2020. The company plans to expand production capabilities later this year, further enhancing its environmentally-friendly disposable serviceware offerings.
Fuling Global Inc. (Nasdaq: FORK) announced the retention of independent advisors by its Special Committee to evaluate a non-binding acquisition proposal from a Buyer Group for $2.18 per share. The Buyer Group is led by Guilan Jiang, the company’s founder and chairwoman, and includes family members. The Special Committee is assessing the proposal alongside other possible alternatives. No assurances are provided regarding the completion of the transaction or further developments at this time.
Fuling Global Inc. (Nasdaq: FORK) has received a preliminary non-binding proposal from founder Guilan Jiang and investor Qijun Huang to acquire all outstanding shares not held by the Buyer Group at $2.18 per share. This purchase price represents a 7% premium over the last closing price and a 22% premium over the 30-day average. If executed, the transaction would take Fuling Global private and result in the company's shares being delisted from NASDAQ. A special committee has been formed to evaluate the proposal, with no assurance of a definitive agreement or transaction completion.
Fuling Global Inc. (NASDAQ: FORK) announced on June 19, 2020, that its subsidiary, Total Faith Holdings Limited, has acquired the remaining 51% of Domo Industry Inc., resulting in Total Faith owning Domo entirely. This acquisition follows Total Faith's previous 49% ownership and contract control over Domo's operations. Domo, established in New York in 2007, specializes in producing and distributing plastic and paper serviceware. Fuling Global focuses on environmentally-friendly disposable products, serving over 100 notable customers worldwide.
