Scott’s Liquid Gold-Inc. Announces Expected Closing Date of Transaction with Horizon Kinetics LLC and Related Corporate Actions
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.
Scott's Liquid Gold-Inc. (OTC: SLGD) ha annunciato la data prevista per la chiusura della fusione con Horizon Kinetics il 1 agosto 2024, dopo la chiusura del mercato. In concomitanza con la fusione, l'azienda prevede di attuare un consolidamento azionario inverso di 1 a 20, reincorporarsi e cambiare nome. Le contrattazioni con il simbolo temporaneo SLGDD dovrebbero iniziare il 2 agosto 2024.
In seguito a queste azioni societarie, circa 18 milioni di azioni saranno emesse ai membri di Horizon Kinetics come contropartita per la fusione. Gli azionisti storici di SLGD sono previsti possedere circa il 3,5% della società combinata dopo la chiusura. La considerazione finale si basa su un AUM di 7,9 miliardi di dollari e su attività tangibili nette di 250 milioni di dollari di Horizon Kinetics.
Scott's Liquid Gold-Inc. (OTC: SLGD) ha anunciado la fecha de cierre esperada para su fusión con Horizon Kinetics el 1 de agosto de 2024, tras el cierre del mercado. Concurrentemente con la fusión, la empresa planea implementar un split inverso de acciones de 1 por 20, reincorporarse y cambiar su nombre. Se espera que el comercio bajo el símbolo temporal SLGDD comience el 2 de agosto de 2024.
Después de estas acciones corporativas, aproximadamente 18 millones de acciones se emitirán a los miembros de Horizon Kinetics como contraprestación por la fusión. Se proyecta que los accionistas históricos de SLGD posean alrededor del 3.5% de la empresa combinada tras el cierre. La consideración final se basó en un AUM de 7.9 mil millones de dólares y activos tangibles netos de 250 millones de dólares de Horizon Kinetics.
Scott's Liquid Gold-Inc. (OTC: SLGD)가 Horizon Kinetics와의 합병 예상 마감일이 2024년 8월 1일 마감 후로 발표되었습니다. 합병과 동시에 회사는 1대 20의 역분할을 시행하고, 재법인화하며, 이름을 변경할 계획입니다. 임시 티커 기호 SLGDD로의 거래는 2024년 8월 2일 시작될 것으로 예상됩니다.
이러한 기업 행동 이후, 약 1,800만 주의 주식이 합병 대가로 Horizon Kinetics 구성원에게 발행됩니다. 기존 SLGD 주주들은 마감 이후 결합된 회사의 약 3.5%를 소유할 것으로 예상됩니다. 최종 대가는 Horizon Kinetics의 7.9억 달러의 AUM과 2억 5천만 달러의 순유형자산을 기반으로 하였습니다.
Scott's Liquid Gold-Inc. (OTC: SLGD) a annoncé la date de clôture prévue de sa fusion avec Horizon Kinetics le 1er août 2024, après la clôture du marché. En parallèle avec la fusion, la société prévoit de mettre en œuvre un reverse stock split de 1 pour 20, de se réincorporer et de changer de nom. Le trading sous le symbole temporaire SLGDD devrait commencer le 2 août 2024.
Suite à ces actions d'entreprise, environ 18 millions d'actions seront émises aux membres d'Horizon Kinetics comme contrepartie de fusion. Les actionnaires historiques de SLGD devraient posséder environ 3,5% de l'entreprise combinée après la clôture. La contrepartie finale était basée sur AUM de 7,9 milliards de dollars et Actifs Tangibles Nets de 250 millions de dollars d'Horizon Kinetics.
Scott's Liquid Gold-Inc. (OTC: SLGD) hat das voraussichtliche Abschlussdatum für die Fusion mit Horizon Kinetics auf den 1. August 2024 nach Börsenschluss angekündigt. Parallel zur Fusion plant das Unternehmen, einen 1:20-Rückwärtssplit durchzuführen, sich neu zu inkorporieren und seinen Namen zu ändern. Der Handel unter dem vorläufigen Tickersymbol SLGDD soll am 2. August 2024 beginnen.
Nach diesen Unternehmensmaßnahmen werden etwa 18 Millionen Aktien als Fusionserwägung an die Mitglieder von Horizon Kinetics ausgegeben. Von den ehemaligen SLGD-Aktionären wird prognostiziert, dass sie etwa 3,5% des fusionierten Unternehmens nach dem Abschluss besitzen. Die endgültige Gegenleistung basiert auf 7,9 Milliarden US-Dollar AUM und 250 Millionen US-Dollar Nettoanlagevermögen von Horizon Kinetics.
- Merger with Horizon Kinetics , a company with $7.9 billion AUM
- Reverse stock split may potentially increase share price and attract new investors
- Reincorporation and name change could signify a new strategic direction
- Significant dilution for existing shareholders, owning only 3.5% of the combined company post-merger
- Reverse stock split may be perceived negatively by some investors
The Company expects that its shares of common stock will commence trading under the temporary ticker symbol “SLGDD” on August 2, 2024.
Following the reverse stock split, approximately 18 million of the Company’s shares are expected to be issued to members of Horizon Kinetics as merger consideration. On a pro forma basis, the Company’s legacy shareholders would therefore 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 including statements regarding the merger with Horizon Kinetics, including the expected closing date. All statements other than statements of historical facts contained herein, including statements on the anticipated effective date of the merger, reverse stock split, reincorporation, name change and ticker symbol change, statements on the anticipated percentage ownership by the Company’s legacy shareholders, and other statements regarding our, Horizon Kinetics’ or the combined 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 us, Horizon Kinetics, or the combined 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 the merger does not close, or does not close in a timely manner; the possibility that the ultimate ownership percentage of the legacy shareholders is different than disclosed herein, the possibility that anticipated benefits from the merger will not be realized, or will not be realized within the expected time period; and disruption from the merger making it more difficult to maintain business and operational relationships; among other risks.
Further information on risks we face is contained in our filings with the SEC, including our Form 10-K for the fiscal year ended December 31, 2023 and our Form 10-Q for the fiscal quarter ended 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 LLC
Horizon Kinetics LLC, through its subsidiary investment manager, Horizon Kinetics Asset Management LLC, is an investment advisory firm with approximately
About Scott’s Liquid Gold-Inc.
Scott’s Liquid Gold-Inc. exists to positively impact consumers’ lives in the markets it serves while creating shareholder value. Scott’s develops, markets, and sells high-quality, high-value household products to mass merchandisers, supermarkets, hardware stores, and e-commerce retailers. For more information, please visit http://www.slginc.com.
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Investor Relations Contact:
David Arndt
President & Chief Financial Officer
303.576.6027
Source: Scott’s Liquid Gold-Inc.
FAQ
When is Scott's Liquid Gold-Inc. (SLGD) expected to close its merger with Horizon Kinetics?
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