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SCOTTS LIQUID GOLD INC - SLGD STOCK NEWS

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Scott's Liquid Gold Inc. (SLGD) is a renowned manufacturer and marketer of high-quality consumer products, boasting a legacy of over 70 years. The company operates under the umbrella of Neoteric Cosmetics and delivers trusted brands both nationally and internationally. Scott's Liquid Gold Inc. is well-known for its signature wood cleaning products, marketed under the Scott's Liquid Gold brand.

The company also offers an extensive range of other consumer products through its diversified brand portfolio. This includes Alpha Skin Care®, which is recognized for its skin rejuvenation and anti-aging solutions, Kids N Pets®, a line dedicated to safe and effective cleaning solutions for households with children and pets, and Messy Pet®, catering to pet owners. Additionally, the company markets Biz®, a powerful stain remover, Denorex®, a brand known for effective dandruff and scalp treatment, and Prell®, a shampoo brand with a rich history in hair care.

Scott's Liquid Gold Inc. consistently focuses on product innovation, customer satisfaction, and expanding its market reach. The company's financial condition is robust, and its strategic partnerships and collaborations enhance its market presence. Recent achievements include the successful launch of new product lines and expanding distribution channels. Scott's Liquid Gold Inc. remains committed to providing high-quality, trusted products that cater to the evolving needs of its customers.

For the latest updates and relevant information about the performance, events, and developments related to Scott's Liquid Gold Inc. and its stock, stay tuned to the most recent news releases and market analyses.

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Horizon Kinetics Holding has completed a 1-for-20 reverse stock split of its common stock. The stock is now trading under the temporary ticker symbol SLGDD for about 20 days. Shareholders' street name accounts now reflect a 1/20th reduction in shares, trading under CUSIP 439913104.

As part of a merger, approximately 18 million shares were issued to Horizon Kinetics members on a post-reverse split basis, but these are not currently tradable. Legacy shareholders now own about 3.5% of the combined company post-split. The merger consideration was based on Horizon Kinetics having AUM of $7.9 billion and Net Tangible Assets of $250 million.

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Horizon Kinetics has completed its merger with Scott's Liquid Gold-Inc. (SLGD), forming Horizon Kinetics Holding Due to unexpected delays, shares will continue trading under the SLGD ticker on a pre-reverse stock split basis. Approximately 18 million shares were issued to Horizon Kinetics members as merger consideration. Legacy SLGD shareholders now own about 3.5% of the combined company post-reverse split.

The Final Consideration was based on Horizon Kinetics' AUM of $7.9 billion and Net Tangible Assets of $250 million. Dan Roller and Rimmy Malhotra, former SLGD board members, expressed enthusiasm for the merger. Murray Stahl, now Chairman, CEO, and CIO of the new company, welcomed SLGD shareholders and emphasized commitment to preserving Horizon's owner-operated culture and long-term investment strategy.

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Scott's Liquid Gold-Inc. (OTC: SLGD) has announced the expected closing date for its merger with Horizon Kinetics on August 1, 2024, after market close. Concurrent with the merger, the company plans to implement a 1-for-20 reverse stock split, reincorporate, and change its name. Trading under the temporary ticker symbol SLGDD is expected to commence on August 2, 2024.

Following these corporate actions, approximately 18 million shares will be issued to Horizon Kinetics members as merger consideration. Legacy SLGD shareholders are projected to own about 3.5% of the combined company post-closing. The final consideration was based on Horizon Kinetics' AUM of $7.9 billion and Net Tangible Assets of $250 million.

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Scott's Liquid Gold provided an update on its previously announced transaction with Horizon Kinetics , including a 1-for-20 reverse stock split, reincorporation, name change, and ticker symbol change.

The closing of these transactions has been postponed to ensure a smooth transition in the company's stock trading. Post-closing, the stock is expected to trade under a new name and ticker symbol.

Legacy shareholders are anticipated to own between approximately 3.3% and 3.8% of the combined company, consistent with previous disclosures.

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Scott's Liquid Gold announced the outcomes of its recent Special Meeting of Shareholders, where all proposals, including a 1-for-20 reverse stock split and reincorporation, were overwhelmingly approved. Over 87% of outstanding shares were represented, with more than 99% voting in favor. The company plans to finalize its merger with Horizon Kinetics on July 1, 2024. On that day, Scott's will change its name to Horizon Kinetics Holding , reincorporate from Colorado to Delaware, and update its ticker symbol to HKHC, alongside implementing the reverse stock split.

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Scott's Liquid Gold-Inc. (OTC: SLGD) has entered into a definitive agreement to merge with Horizon Kinetics LLC in an all-stock transaction. The transaction is expected to close in the second quarter of 2024, subject to standard closing conditions. The company will issue a number of shares to the current owners of Horizon Kinetics based on the calculation of the consideration. Murray Stahl, Co-Founder and Chief Executive Officer of Horizon Kinetics, is expected to serve as Chief Executive Officer of the combined entity.
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Scott's Liquid Gold (OTC: SLGD) announced the sale of its wood and floor care lines, earning $1.9 million in gross proceeds, which will contribute to reducing net debt. The company will also receive royalties from sales of these products for the next two years. This transaction is part of a broader strategy to explore various options aimed at maximizing shareholder value, including potential sales of additional brands or strategic mergers. The company has not set a timeline for these processes and does not guarantee any specific outcome.

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Scott’s Liquid Gold reported a net sales decline to $4.3 million in Q3 2022 from $8.0 million in 2021, largely attributed to the sale of the Dryel brand and an ended distribution agreement for Batiste products. However, net loss improved to $0.7 million from $2.5 million year-over-year, aided by reduced operating expenses and improved margins. The company is facing challenges in adjusting to customer purchasing behaviors and supply chain hurdles but is focused on cost reductions and operational efficiencies amid a challenging environment.

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In Q2 2022, Scott's Liquid Gold (OTC: SLGD) reported net sales of $5.4 million, down from $6.5 million in Q2 2021. The company experienced a net loss of $4.3 million, significantly higher than the $1.1 million loss in the same quarter last year. This loss included a $3.6 million impairment of goodwill and intangible assets. The decline in sales was attributed to the sale of the Dryel brand and a drop in distribution sales due to supply chain issues. Despite these challenges, adjusted net loss stood steady at $0.6 million for both Q2 2022 and Q2 2021.

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FAQ

What is the current stock price of SCOTTS LIQUID GOLD (SLGD)?

The current stock price of SCOTTS LIQUID GOLD (SLGD) is $1.07 as of August 2, 2024.

What is the market cap of SCOTTS LIQUID GOLD (SLGD)?

The market cap of SCOTTS LIQUID GOLD (SLGD) is approximately 15.0M.

What does Scott's Liquid Gold Inc. specialize in?

Scott's Liquid Gold Inc. specializes in manufacturing and marketing high-quality consumer products, including wood cleaning products, skin care, household cleaners, and personal care items.

What are some of the key brands under Scott's Liquid Gold Inc.?

Key brands include Scott's Liquid Gold®, Alpha Skin Care®, Kids N Pets®, Messy Pet®, Biz®, Denorex®, and Prell®.

How long has Scott's Liquid Gold Inc. been in business?

Scott's Liquid Gold Inc. has been in business for over 70 years.

Where are Scott's Liquid Gold Inc. products available?

Scott's Liquid Gold Inc. products are sold both nationally and internationally through various retail channels.

What recent achievements has Scott's Liquid Gold Inc. made?

Recent achievements include the successful launch of new product lines and expansion of distribution channels.

Is Scott's Liquid Gold Inc. financially stable?

Yes, Scott's Liquid Gold Inc. maintains a robust financial condition.

Does Scott's Liquid Gold Inc. engage in partnerships?

Yes, the company engages in strategic partnerships and collaborations to enhance its market presence.

What is the focus of Scott's Liquid Gold Inc.?

The company focuses on product innovation, customer satisfaction, and expanding its market reach.

Where can I find the latest news about Scott's Liquid Gold Inc.?

The latest news and updates about Scott's Liquid Gold Inc. can be found on stock market websites, company press releases, and market analysis reports.

What makes Scott's Liquid Gold Inc. products unique?

Scott's Liquid Gold Inc. products are known for their high quality, trusted brand names, and effective solutions that cater to consumer needs.

SCOTTS LIQUID GOLD INC

OTC:SLGD

SLGD Rankings

SLGD Stock Data

14.96M
649.79k
Household & Personal Products
Consumer Defensive
Link
United States of America
Greenwood Village