(GlobeNewswire) – Fenix Parts, Inc. (Pink Sheets:FENX), a arch recycler and reseller of aboriginal accessories architect (OEM) automotive articles (the Company), today appear that Fenix Genitalia stockholders accustomed the ahead appear alliance acceding with an associate of Stellex Capital Management LP (Stellex) at a appropriate affair of stockholders captivated beforehand today.
Approximately 92% of voting Fenix Genitalia stockholders casting their votes in favor of the merger, apery about 63% of Fenix Genitalia outstanding accepted b as of the almanac date for the appropriate stockholder meeting.
Upon achievement of the transaction, Fenix Genitalia stockholders will accept an bulk in banknote according to $0.40 per allotment of Fenix Genitalia accepted stock. The transaction charcoal accountable to accepted closing altitude and is accepted to aing this month, at which time Fenix Genitalia will become a clandestine aggregation and its accepted b will no best barter on the OTC Pink operated by the OTC Markets Group Inc.
About Fenix PartsFenix Parts, Inc. is a arch recycler and reseller of aboriginal accessories architect (OEM) automotive products. The companys primary business is auto recycling, which is the accretion and resale of OEM parts, apparatus and systems reclaimed from damaged, totaled or low amount vehicles. Barter accommodate blow adjustment shops (body shops), automated adjustment shops, auto dealerships and alone retail customers. Fenix provides its barter with high-quality recycled OEM products, all-encompassing account and artefact availability, acknowledging chump account and fast delivery.
Fenix was founded in 2014 to actualize a arrangement that offers sales, accomplishment and administration in key bounded markets in the United States and Canada. The Fenix companies accept been in business an boilerplate of added than 25 years and currently accomplish from 16 locations throughout the Eastern U.S. and in Ontario, Canada.
Forward-Looking StatementsStatements in this columnist absolution apropos the proposed transaction amid Stellex and Fenix, the accepted calendar for commutual the transaction, allowances of the transaction and any added statements about Stellex and Fenix managements approaching expectations, beliefs, goals, affairs or affairs aggregate advanced statements. Any statements that are not statements of absolute actuality (including statements absolute the words believes, plans, anticipates, expects, estimates, and agnate expressions) should additionally be advised to be advanced statements. There are a cardinal of important factors that could account absolute after-effects or contest to alter materially from those adumbrated by such advanced statements, including the adeptness to able the transaction. Except as contrarily appropriate by law, Fenix disclaims any ambition or obligation to amend any advanced statements as a aftereffect of developments occurring afterwards the date of this columnist release.
At Fenix Parts:Scott PettitChief Financial [email protected]
Investor and Media Inquiries:Chris [email protected]
(c) 2018 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., antecedent Middle East & North African Newspapers
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