Syntroleum Corporation Announces Voluntary Delisting
03 Junho 2014 - 5:00PM
Syntroleum Corporation (the "Company") (Nasdaq:SYNM) today
announced that it had consummated the sale of substantially all of
its assets to REG Synthetic Fuels, LLC ("REG Synthetic"), a
wholly-owned subsidiary of Renewable Energy Group, Inc. ("REG"),
pursuant to the terms of that certain asset purchase agreement,
dated as of December 17, 2013, by and among the Company, REG and
REG Synthetic (the "Asset Purchase Agreement" and the transactions
contemplated thereby, the "Asset Sale"). As consideration for the
Asset Sale, REG Synthetic assumed substantially all material
liabilities of the Company and the Company received 3,493,613
shares of REG common stock.
In connection with the consummation of the Asset Sale, the
Company has notified NASDAQ of its intent to voluntarily delist its
common stock from the NASDAQ Capital Market effective on June 6,
2014, upon the filing of a Form 25 with the United States
Securities and Exchange Commission.
Trading in the Company's common stock will cease as of 4PM
Eastern Time on June 6, 2014 and the CUSIP for the Company's common
stock will be suspended at that time.
Following the consummation of the Asset Sale, the Company has no
further ongoing business operations. The Company intends to file a
Certificate of Dissolution with the Secretary of State of the State
of Delaware on June 11, 2014 (the "Final Record Date") and close
its stock transfer books as of the close of business on the Final
Record Date. Only holders of record of the Company's common stock
as of the close of business on the Final Record Date will be
eligible to receive distributions of the Company's assets, if any,
in connection with the Company's liquidation.
Note Regarding Forward-Looking Statements
This Press Release contains forward-looking statements within
the meaning of Private Securities Litigation Reform Act of 1995, as
amended, that involve risks and uncertainties. These
forward-looking statements include any statements regarding the
Company's strategic and operational plans. Forward-looking
statements should not be read as a guarantee of future performance
or results, and will not necessarily be accurate indications of the
times at, or by, which such performance or results will be
achieved. Forward-looking statements are based on information
available at the time those statements are made and/or management's
good faith belief as of that time with respect to future events,
and are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. The Company does
not intend, and undertakes no duty, to update this information to
reflect future events or circumstances.
CONTACT: Karen Power
Syntroleum Corporation
kpower@syntroleum.com
Syntroleum Corp. (MM) (NASDAQ:SYNM)
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