Horizon Kinetics Holding Corporation Announces Completion of Reverse Split and Trading Under a Temporary Ticker
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.
Horizon Kinetics Holding ha completato un'operazione di reverse stock split di 1 per 20 delle proprie azioni ordinarie. Le azioni ora vengono scambiate con il simbolo temporaneo SLGDD per circa 20 giorni. I conti in nome di strada degli azionisti riflettono ora una riduzione di 1/20 delle azioni, scambiate sotto il CUSIP 439913104.
Come parte di una fusione, sono state emesse circa 18 milioni di azioni ai membri di Horizon Kinetics su base post-reverse split, ma queste non sono attualmente commerciabili. Gli azionisti storici possiedono ora circa 3,5% della società combinata post-split. La considerazione della fusione si basava su Horizon Kinetics che aveva AUM di 7,9 miliardi di dollari e Attività Tangibili nette di 250 milioni di dollari.
Horizon Kinetics Holding ha completado una división de acciones inversa de 1 por 20 de sus acciones ordinarias. Las acciones ahora se negocian bajo el símbolo temporal SLGDD durante aproximadamente 20 días. Las cuentas de los accionistas en nombre de calle ahora reflejan una reducción de 1/20 en las acciones, que se negocian bajo CUSIP 439913104.
Como parte de una fusión, aproximadamente 18 millones de acciones se emitieron a los miembros de Horizon Kinetics sobre una base posterior a la división inversa, pero estas no son negociables en la actualidad. Los accionistas originales poseen ahora aproximadamente 3,5% de la empresa combinada después de la división. La consideración de la fusión se basó en que Horizon Kinetics tenía AUM de $7.9 mil millones y Activos Tangibles Netos de $250 millones.
Horizon Kinetics Holding은 자사 보통주에 대한 1대 20 비율의 역분할을 완료했습니다. 현재 주식은 약 20일 동안 임시 티커 기호 SLGDD로 거래되고 있습니다. 주주들의 주식 계좌는 이제 1/20의 주식 감소를 반영하며, CUSIP 439913104로 거래됩니다.
합병의 일환으로, 약 1800만 주가 역분할 기준에 따라 Horizon Kinetics 회원에게 발행되었으나, 현재는 거래할 수 없습니다. 기존 주주들은 역분할 후 통합된 회사의 약 3.5%를 소유하고 있습니다. 합병 가치는 Horizon Kinetics의 AUM이 79억 달러와 순유형자산이 2억 5천만 달러에 기반했습니다.
Horizon Kinetics Holding a terminé une scission d'actions inversée de 1 pour 20 de ses actions ordinaires. Les actions se négocient maintenant sous le symbole temporaire SLGDD pendant environ 20 jours. Les comptes de nom de rue des actionnaires reflètent désormais une réduction de 1/20 des actions, négociées sous le CUSIP 439913104.
Dans le cadre d'une fusion, environ 18 millions d'actions ont été émises aux membres de Horizon Kinetics sur une base post-split inversée, mais celles-ci ne sont pas actuellement négociables. Les actionnaires historiques possèdent désormais environ 3,5% de la société combinée après la scission. La considération de la fusion était basée sur un AUM de 7,9 milliards de dollars et des actifs tangibles nets de 250 millions de dollars pour Horizon Kinetics.
Horizon Kinetics Holding hat einen 1-zu-20-Rückwärtssplit seiner Stammaktien abgeschlossen. Die Aktien werden nun für etwa 20 Tage unter dem vorübergehenden Tickersymbol SLGDD gehandelt. Die Straßenname-Konten der Aktionäre reflektieren nun eine Reduzierung auf 1/20 der Aktien, die unter CUSIP 439913104 gehandelt werden.
Im Rahmen einer Fusion wurden etwa 18 Millionen Aktien an Mitglieder von Horizon Kinetics auf Basis des nach der Rückwärtsspalte entstandenen Anteils ausgegeben, diese sind jedoch derzeit nicht handelbar. Bestehende Aktionäre besitzen nun etwa 3,5% des kombinierten Unternehmens nach dem Split. Die Überlegungen zur Fusion basierten darauf, dass Horizon Kinetics ein AUM von 7,9 Milliarden Dollar und Netto-Tangibles Vermögen von 250 Millionen Dollar hatte.
- Completion of 1-for-20 reverse stock split, potentially improving stock price visibility
- Merger resulted in significant AUM of $7.9 billion
- Net Tangible Assets of approximately $250 million
- Legacy shareholders' ownership diluted to only 3.5% of the combined company
- 18 million shares issued as merger consideration are not currently eligible for trading, potentially affecting liquidity
NEW YORK, NY / ACCESSWIRE / August 5, 2024 / Horizon Kinetics Holding Corporation (the "Company") announced the completion of the reverse stock split (1-for-20) of its common stock, which is now trading under the temporary ticker symbol "SLGDD" for a period of approximately twenty (20) days. As a result, the number of shares reflected in the street name accounts of shareholders has been reduced by 1/20th and are now trading under the CUSIP 439913104.
Approximately 18 million of the Company's shares were issued to members of Horizon Kinetics as merger consideration on a post-reverse stock split basis. These shares are not currently eligible for trading. The Company's legacy shareholders now own approximately
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained herein, including statements on the date the Company's common stock will start trading under a new ticker symbol, statements on the Company's strategy, and other statements regarding the Company's future financial position and results of operations, liquidity, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs as a combined company.
Important factors that could cause actual results to differ from those in the forward-looking statements include: the possibility that trading of the Company's stock under a new ticker symbol will not occur when or as expected, among other risks.
Further information on risks we face is contained in our filings with the SEC, including Scott's Liquid Gold's Form 10-K for the fiscal year ended December 31, 2023 and Form 10-Q for the fiscal quarters ended March 31, 2024 and June 30, 2024, and the definitive proxy statement dated May 13, 2024. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
About Horizon Kinetics Holding Corporation
Horizon Kinetics Holding Corporation (OTC Pink:SLGDD) primarily offers investment advisory services through its subsidiary Horizon Kinetics Asset Management LLC ("HKAM"), a registered investment adviser. HKAM provides independent proprietary research and investment advisory services for mainly long-only and alternative value-based investing strategies. The firm also obtained a portfolio of consumer products, which are marketed and distributed in the retail marketplace, as a result of its August 2024 merger with Scott's Liquid Gold-Inc. The firm's offices are located in New York City, White Plains, New York, and Summit, New Jersey. For more information, please visit http://www.hkholdingco.com.
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SOURCE: Horizon Kinetics Holding Corporation
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FAQ
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