Scott’s Liquid Gold-Inc. Provides Update on Previously Announced Transaction with Horizon Kinetics LLC and Related Corporate Actions
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.
- None.
- Postponement of the transactions could lead to uncertainty and potential volatility in the company's stock.
- Legacy shareholders will own a reduced percentage (3.3% to 3.8%) of the pro forma combined company.
The Company currently expects its legacy shareholders to own between 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 falls outside of the range 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 March 31, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240701936591/en/
Investor Relations Contact:
David Arndt
President & Chief Financial Officer
303.576.6027
Source: Scott’s Liquid Gold-Inc.
FAQ
What update did Scott's Liquid Gold provide regarding the transaction with Horizon Kinetics?
What changes are included in the Scott's Liquid Gold transaction with Horizon Kinetics?
What will be the new stock symbol for Scott's Liquid Gold after the transaction closes?
How much of the combined company will legacy shareholders of Scott's Liquid Gold own?
Why was the closing of Scott's Liquid Gold's transaction with Horizon Kinetics postponed?
