Le Lézard
Classified in: Science and technology, Business
Subject: TNM

Universal Power Group, Inc. Announces Closing of Cash-Out Merger Transaction


COPPELL, Texas, June 14, 2018 /PRNewswire/ -- Universal Power Group, Inc. (the "Company")(OTCMKTS: UPGI), a Texas- based provider of batteries, related power accessories and supply chain solutions, today announced the closing of the transactions contemplated by the previously-announced Agreement and Plan of Merger, dated May 9, 2018, (the "Merger Agreement"), by and among UPGI Holdings, Inc., a Delaware corporation (the "Parent"), Project Phoenix Merger Sub, Inc., a Texas corporation and the Company, pursuant to which the Company became a wholly-owned subsidiary of the Parent, and the former minority shareholders of the Company received the right to proceeds of $2.24 per share.  The Merger Agreement was approved at a special meeting of stockholders of the Company held on June 13, 2018.  The Company has advised OTC Markets and the Financial Industry Regulatory Authority, Inc. (FINRA) that the Company's securities are no longer eligible for public quotation or trading.

About Universal Power Group, Inc.
UPG is a leading supplier of batteries, power accessories, wire and cable products, and a provider of supply chain solutions. UPG's offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jumpstarters, and other power accessories. UPG's supply chain services include sourcing, procurement, warehousing, inventory management, distribution and fulfillment. Through its wholly owned subsidiaries, iTECH and ProTechnologies, Inc., UPG's expanded offerings include the manufacture of smart lithium-ion batteries, chargers, docking stations, vehicle cradles and power subsystems for performance critical applications. For more information, please visit the UPG website at www.upgi.com.

 

 

SOURCE Universal Power Group, Inc.


These press releases may also interest you

at 05:20
Roborock, a global leader in ultra-intelligent home robotics engineered to simplify daily life, today announced it has taken the number one spot for robotic vacuum sales worldwide, according to new data by Euromonitor. Celebrating its achievements at...

at 05:20
IASO Bio, a biopharmaceutical company engaged in discovering, developing, manufacturing and marketing innovative cell therapies and antibody products, today announced that China National Medical Products Administration (NMPA) has approved the...

at 05:15
The "Flow Cytometry Markets. Forecasts by Technology, Product and Application. With Executive and Consultant Guides. 2023 to 2027" report has been added to ResearchAndMarkets.com's offering. The technology is moving faster than the market. Find the...

at 05:00
TAL Education Group ("TAL" or the "Company") , a smart learning solutions provider in China, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year 2024 ended February 29, 2024, before the market...

at 04:00
Halfpricesoft.com offers a seamless and secure solution for in-house payroll processing with the l atest 2024 ezPaycheck YTD feature for those switching to the program, mid-year. The application is also combine d with features that have long...

at 04:00
U Power Limited (the "Company" or "U Power"), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that the Company held an extraordinary general meeting of...



News published on and distributed by: