MACE SECURITY INTL INC - MACE STOCK NEWS

Mace Security International (OTCQB:MACE) announced that stockholders have approved all proposals at the Special Meeting held on December 3, 2024, including the adoption of the Agreement and Plan of Merger with W Electric Intermediate Holdings. The stockholders also approved the appointment of Charles A. Gaddis as substitute Stockholders' Representative. The merger closing is expected to occur around December 6, 2024.

Mace Security International is a Cleveland-based leader in personal safety and security, known for its Mace® Brand defense spray products, along with other brands including Take Down®, KUROS!®, Vigilant®, and Tornado®. The company distributes its products through mass market retailers, wholesale distributors, independent dealers, Amazon.com, and Mace.com.

Mace Security International (OTCQB:MACE) announces its Special Meeting of Stockholders scheduled for Tuesday, December 3, 2024, at 11:00 a.m. Eastern time at the Company's Cleveland headquarters. Stockholders can vote online until 11:59 PM EDT on December 2, 2024, through their broker's instructions or Equiniti Trust Company, , by telephone where available, or in person at the meeting. For assistance, stockholders can contact InvestorRelations@mace.com.

Mace Security International (OTCQB:MACE) announced delays in filing its Q3 2024 financial statements, expecting completion by December 30, 2024. Preliminary Q3 results show net sales of $1,411,000, down 6% year-over-year due to losing two major retail customers. Gross profit rate declined to 23.1% from 30% in 2023, despite 29% reduction in manufacturing costs. Operating loss was ($635,000) compared to ($644,000) in Q3 2023. Cash position decreased to $1,000, with $1,209,000 drawn from credit line. SG&A expenses were $961,000, including non-recurring costs related to merger agreement and transition expenses.

Mace Security International (OTCQB:MACE) has announced the postponement of its 2024 Annual Meeting of Shareholders due to a recently announced Agreement and Plan of Merger. The meeting will be rescheduled if necessary pending the potential merger transaction. A separate Special Meeting of Shareholders will be called specifically to vote on the merger agreement, with notice to be provided in the future.

Mace Security International, Inc. (OTCQB:MACE) has announced a definitive Agreement and Plan of Merger with W Electric Intermediate Holdings, Under the agreement, Mace will become a wholly-owned subsidiary of W Electric Intermediate Holdings. The merger consideration is $6,000,000 on a cash-free, debt-free basis, subject to adjustments. Mace projects per share cash proceeds to shareholders between $0.016 and $0.0235, plus potential additional adjustments.

The merger requires shareholder approval and is expected to close by the end of 2024. W Electric Intermediate Holdings has paid Mace a refundable $300,000 interest-free earnest money deposit. The agreement includes termination rights and fees under specific circumstances. Mace's Board of Directors has unanimously approved the Merger Agreement.

Mace Security International (OTCQB:MACE) announced its Q2 2024 financial results. Net sales were $1,360,000, down 22% from Q2 2023, mainly due to the loss of two larger retail customers and non-recurring international orders. The gross profit rate remained at 30%. SG&A expenses were $947,000, with adjusted SG&A at $824,000, 4% lower than Q2 2023. The company reported a net loss of $722,000 and an Adjusted EBITDA loss of $412,000.

For the first half of 2024, net sales were $2,718,000, down 20% year-over-year. The gross profit rate improved to 32% from 27% in 2023. Net loss was $1,461,000, and Adjusted EBITDA loss was $901,000. The company continues to focus on cost reduction and operational improvements while facing challenges in retail and international markets.

Mace Security International (OTCQB:MACE), a global leader in personal self-defense sprays, has announced additional unsecured subordinated funding. The company's Board of Directors approved a $40,000 unsecured subordinated loan from a Board member on September 20, 2024. The note matures on the earlier of July 27, 2025 or when the Company's senior line of credit is repaid, bearing interest at 10% per annum. The note does not have a conversion feature.

Mace Security International, based in Cleveland, Ohio, has been designing and manufacturing consumer and tactical products for personal defense and security for over 40 years. The company's portfolio includes the Mace Brand defense sprays, Take Down brand for law enforcement, KUROS! personal safety products, Vigilant alarms, and Tornado pepper spray and stun guns.

Mace Security International (OTCQB:MACE) announced on June 27, 2024, that it has secured a $100,000 additional unsecured subordinated loan from a Board member as of June 25, 2024. This loan, which bears an interest rate of 10% per annum, is to be drawn down if necessary and matures on the sooner of July 27, 2025, or when the company's senior line of credit is repaid. The loan does not include a conversion feature. Mace Security International is a leader in personal safety and security products, including aerosol defense sprays and tactical products for law enforcement and consumers, distributed through various retail and online channels.

Mace Security International (OTCQB:MACE), a leader in personal safety products, has announced a strategic partnership with Pyramyd AIR, a premier online airgun and outdoor gear retailer based in Cleveland. This collaboration aims to offer safety solutions for outdoor enthusiasts by integrating Mace's products into Pyramyd AIR's catalog. Key products featured in this partnership include Mace Pepper Gel, Mace Personal Alarm Keychains, and Mace Bear Spray. The partnership seeks to enhance the safety of adventurers and expand the availability of these safety tools through Pyramyd AIR's extensive customer base. Val Gamerman, President of Pyramyd AIR, emphasized the importance of safety in outdoor activities and expressed enthusiasm about providing top-tier safety products.