Nixxy Withdraws Record Date for CognoGroup Spin-Off
Nixxy (NASDAQ:NIXX) has announced the withdrawal of the previously set record date (November 15, 2024) for its planned spin-off of subsidiary Atlantic Energy Solutions (OTC:AESO), also known as CognoGroup. The decision is attributed to ongoing strategic evaluation of corporate structure, pending regulatory reviews, optimization of shareholder value, and alignment with broader strategic objectives.
CEO Granger Whitelaw stated that this withdrawal will provide additional time to better align with corporate aims and ensure orderly distribution of CognoGroup shares. The company maintains that the spin-off remains a strategic priority and will provide an updated timeline in a subsequent announcement.
Nixxy (NASDAQ:NIXX) ha annunciato il ritiro della data record precedentemente fissata (15 novembre 2024) per la sua prevista scissione della controllata Atlantic Energy Solutions (OTC:AESO), nota anche come CognoGroup. La decisione è attribuita a una continua valutazione strategica della struttura aziendale, in attesa delle recensioni normative, all'ottimizzazione del valore per gli azionisti e all'allineamento con obiettivi strategici più ampi.
Il CEO Granger Whitelaw ha dichiarato che questo ritiro fornirà ulteriore tempo per meglio allinearsi con gli obiettivi aziendali e garantire un'ordinata distribuzione delle azioni di CognoGroup. L'azienda sostiene che la scissione rimane una priorità strategica e fornirà un aggiornamento sulla tempistica in un annuncio successivo.
Nixxy (NASDAQ:NIXX) ha anunciado la retirada de la fecha récord previamente establecida (15 de noviembre de 2024) para su planificada escisión de la filial Atlantic Energy Solutions (OTC:AESO), también conocida como CognoGroup. La decisión se atribuye a una evaluación estratégica continua de la estructura corporativa, revisiones regulatorias pendientes, optimización del valor para los accionistas y alineación con objetivos estratégicos más amplios.
El CEO Granger Whitelaw declaró que esta retirada proporcionará tiempo adicional para alinearse mejor con los objetivos corporativos y asegurar una distribución ordenada de las acciones de CognoGroup. La empresa afirma que la escisión sigue siendo una prioridad estratégica y proporcionará un cronograma actualizado en un anuncio posterior.
Nixxy (NASDAQ:NIXX)는 자회사 Atlantic Energy Solutions (OTC:AESO)(또는 CognoGroup)의 계획된 분할을 위한 이전에 설정된 기준일(2024년 11월 15일)을 철회했다고 발표했습니다. 이 결정은 기업 구조에 대한 지속적인 전략 평가, 규제 검토 대기, 주주 가치를 최적화하고 더 넓은 전략적 목표에 맞추기 위한 것입니다.
CEO 그레인저 화이트로는 이러한 철회가 기업 목표에 더 잘 맞출 수 있는 추가 시간을 제공하고 CognoGroup 주식의 질서 있는 분배를 보장할 것이라고 밝혔습니다. 회사는 분할이 여전히 전략적 우선사항이라고 주장하며 이후 발표에서 업데이트된 일정을 제공할 것이라고 전했습니다.
Nixxy (NASDAQ:NIXX) a annoncé le retrait de la date record précédemment fixée (15 novembre 2024) pour sa scission prévue de la filiale Atlantic Energy Solutions (OTC:AESO), également connue sous le nom de CognoGroup. Cette décision est attribuée à une évaluation stratégique continue de la structure d'entreprise, à des examens réglementaires en attente, à l'optimisation de la valeur pour les actionnaires et à l'alignement avec des objectifs stratégiques plus larges.
Le PDG Granger Whitelaw a déclaré que ce retrait permettra de disposer de plus de temps pour mieux s'aligner sur les objectifs de l'entreprise et garantir une distribution ordonnée des actions de CognoGroup. L'entreprise maintient que la scission demeure une priorité stratégique et fournira un calendrier mis à jour dans une annonce ultérieure.
Nixxy (NASDAQ:NIXX) hat den Rückzug des zuvor festgelegten Stichtags (15. November 2024) für die geplante Abspaltung der Tochtergesellschaft Atlantic Energy Solutions (OTC:AESO), auch bekannt als CognoGroup, angekündigt. Die Entscheidung wird einer fortlaufenden strategischen Bewertung der Unternehmensstruktur, ausstehenden regulatorischen Prüfungen, der Optimierung des Aktionärswertes und der Ausrichtung an breiteren strategischen Zielen zugeschrieben.
CEO Granger Whitelaw erklärte, dass dieser Rückzug zusätzliche Zeit bieten wird, um sich besser an den Unternehmenszielen auszurichten und eine geordnete Verteilung der CognoGroup-Aktien sicherzustellen. Das Unternehmen betont, dass die Abspaltung weiterhin eine strategische Priorität ist und in einer zukünftigen Mitteilung einen aktualisierten Zeitrahmen bereitstellen wird.
- Spin-off remains a strategic priority for the company
- Company maintains focus on maximizing shareholder value
- Delay in previously announced spin-off timeline
- Additional pending regulatory reviews required
- Uncertainty regarding new record date and distribution ratio
Insights
This withdrawal of the spin-off record date signals potential complications in Nixxy's corporate restructuring plans. For a micro-cap company with a market cap of
The lack of specific details about the distribution ratio and revised timeline creates uncertainty for shareholders. While management frames this as an opportunity for optimization, delays in corporate actions often lead to increased costs and potential value erosion. The vague language around "additional regulatory reviews" and "strategic objectives" suggests there may be underlying complexities or challenges that need to be addressed.
NEW YORK, NY / ACCESSWIRE / December 4, 2024 / Nixxy, Inc. (NASDAQ:NIXX), or "the Company", today announced that it is withdrawing the previously announced record date for its planned spin-off of its subsidiary, Atlantic Energy Solutions (OTC:AESO) ("AESO"), or CognoGroup, the anticipated future name of the Company following the spinoff.
Key Details
Original Announcement
Original Record Date: November 15, 2024
Originally Announced Spin-Off Date: TBD
Original Distribution Ratio: TBD
Reason for Withdrawal
The decision to withdraw the record date is based on:
Ongoing strategic evaluation of the corporate structure
Pending additional regulatory reviews
Optimization of shareholder value
Alignment with broader strategic objectives
Next Steps
The company will provide an updated timeline in a subsequent announcement
Shareholders are advised to await further communication
All previously disclosed information remains subject to review
Management Commentary
"The Company believes that the withdrawal of the record date for the CognoGroup spinoff will afford the Company with the additional time to better align with its corporate aims, allow for the orderly distribution of the CognoGroup shares and maximize shareholder value.", said Granger Whitelaw, CEO of the Company.
Additional Context
The proposed spin-off of remains a strategic priority for the company
The company remains committed to creating shareholder value
Further details will be communicated as they become available
About Nixxy
Nixxy (Nasdaq:NIXX) is committed to transforming traditional markets through advanced technology and data-driven insights. By acquiring cornerstone businesses in established industries and evolving their operations with innovative solutions, Nixxy aims to unlock potential growth opportunities. The Company focuses on sectors poised for digital innovation, leveraging data and technology to potentially disrupt conventional business models.
Forward-Looking Statements Disclaimer
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including those regarding the Company's business strategy, future operations, acquisition strategy, financial position, potential growth, spin-out transactions, and market opportunities. Words such as ‘anticipates,' ‘believes,' ‘expects,' ‘intends,' ‘plans,' and ‘may,' or similar expressions, are intended to identify forward-looking statements. These statements are based on the Company's current expectations and beliefs and involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, as they involve inherent risks and uncertainties. The Company disclaims any obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Third-Party Data Disclaimer
The financial information regarding the target company's gross merchandise volume, revenues, and profitability presented in this press release is based on data provided by third-party sources and the target company itself. While Nixxy has made reasonable efforts to verify the accuracy of this information, the Company cannot guarantee its completeness or reliability. This data is subject to further due diligence, and actual financial results may differ materially. Investors are advised not to place undue reliance on this information when making investment decisions. Nixxy disclaims any obligation to update or revise this information, except as required by law.
No Offer or Solicitation Disclaimer
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Risk Factors
Investors should carefully consider the risks associated with the Company's business and the spin-out transaction described herein, including but not limited to: the uncertainty surrounding the timing of the spin-out; the ability to successfully execute acquisitions and integrate acquired companies; the impact of technological changes on the Company's operations; and other risks detailed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including those contained in the Company's Form 10-K/A filed with the SEC on August 14, 2024.
The waiver of participation by certain investors is based on their own strategic considerations and should not be interpreted as a reflection of CognoGroup's future performance or valuation. Remember that all investments carry risk, including the potential loss of principal. Investing in smaller or emerging companies like CognoGroup may involve heightened risks and uncertainties.
Trademarks and Intellectual Property
All trademarks, service marks, and trade names used in this press release are the property of their respective owners. No endorsement by these parties is implied.
Investor Contact Information
For further information, investors are encouraged to review Nixxy's filings with the SEC, available at www.sec.gov, or contact the Company's Investor Relations department at IR@nixxy.com.
SOURCE: Nixxy, Inc.
View the original press release on accesswire.com
FAQ
Why did Nixxy (NIXX) withdraw the record date for CognoGroup spin-off?
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