Mace Announces Review of Strategic Alternatives

Rhea-AI Summary

Mace Security International, Inc. (OTCQX:MACE) has initiated a review of potential strategic alternatives in light of third-party inquiries. These options may include remaining independent, merging, or engaging in other strategic alliances. No formal timeline has been set, and decisions are still pending. The board has appointed Carleton McKenna & Co., LLC as the financial advisor and Squire Patton Boggs (US) LLP as legal advisor for this process. Mace, a leader in personal safety products, emphasizes that there is no guarantee a transaction will occur.

Positive

• Initiated strategic review to explore potential growth opportunities.
• Engaged experienced advisors for the evaluation process.

Negative

• Uncertainty about the outcome of the strategic review process.
• Potential risks associated with reliance on management and competition.

CLEVELAND, OH / ACCESSWIRE / April 8, 2022 / Mace Security International, Inc. (OTCQX:MACE) today announced that, in response to third party inquiries and some preliminary discussions, its Board of Directors, supported by management, has commenced a process to explore and evaluate potential strategic alternatives for the Company. These alternatives may include continuing as a standalone company, merging with another party or other forms of strategic transactions or alliances.

The Company has not set a formal timetable for this review, nor has it made any decisions related to strategic alternatives at this time. While the Company is pursuing opportunities, there is no assurance that the process will result in a transaction. The Company does not expect to make additional public comment regarding these matters unless and until the Board has determined that such disclosure is appropriate or required.

The board has retained Carleton McKenna & Co., LLC as its financial advisor and Squire Patton Boggs (US) LLP as its legal advisor in connection with the review.

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 in this press release, 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 Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to economic conditions, dependence on management, our ability to compete with competitors, dilution to shareholders, and limited capital resources.

CONTACT:
Mike Weisbarth
Chief Financial Officer
mweisbarth@mace.com

SOURCE: MACE SECURITY INTERNATIONAL INC

View source version on accesswire.com:
https://www.accesswire.com/696654/Mace-Announces-Review-of-Strategic-Alternatives

FAQ

What is Mace Security International Inc. exploring in 2022?

Mace Security is exploring potential strategic alternatives, which may include mergers or alliances.

Who is advising Mace Security on its strategic alternatives?

Mace has retained Carleton McKenna & Co., LLC as its financial advisor and Squire Patton Boggs (US) LLP as its legal advisor.

When did Mace Security announce its strategic alternatives review?

Mace Security announced the review on April 8, 2022.

What is the stock symbol for Mace Security International?

The stock symbol for Mace Security International is MACE.

What products does Mace Security International offer?

Mace offers personal safety products, including defense sprays and tactical equipment.