Liquidity Services Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)
July 19 2018 - 4:30PM
Liquidity Services, Inc. (NASDAQ:LQDT), a global solution provider
in the reverse supply chain with the world’s largest marketplace
for business surplus, today announced it has completed issuing
equity grants to new employees in connection with the acquisition
of Machinio Corp., a leading global online platform for listing
used equipment for sale in the construction, machine tool,
transportation, printing and agriculture sectors. The acquisition
of Machinio Corp. was previously announced on July 10, 2018.
The Company issued a total of 667,384 shares of common stock,
including restricted shares and restricted stock units, as
inducement grants to the founders of Machinio who accepted
employment with the Company.
Specifically, the Company issued:
- an aggregate of 297,014 shares of Company common stock to the
founders of Machinio, Dan Pinto and Dmitriy Rokhfeld, which shares
are subject to restrictions on transfer for 12-months; and
- performance-based restricted stock units relating to up to
370,370 shares of Company common stock to the founders of Machinio,
which units may vest over the next four years based on the
achievement of EBITDA and revenue targets for the Machinio
business.
The shares and restricted stock units were granted in accordance
with NASDAQ Listing Rule 5635(c)(4).
About Liquidity ServicesLiquidity Services
(NASDAQ:LQDT) operates a network of leading e-commerce marketplaces
that enable buyers and sellers to transact in an efficient,
automated environment offering over 500 product categories. The
company employs innovative e-commerce marketplace solutions to
manage, value and sell inventory and equipment for business and
government sellers. Our superior service, unmatched scale and
ability to deliver results enable us to forge trusted, long-term
relationships with over 11,000 sellers worldwide. With over $7
billion in completed transactions, and over three million buyers in
almost 200 countries and territories, we are the proven leader in
delivering smart commerce solutions. Visit us at
LiquidityServices.com. http://www.liquidityservicesinc.com.
Contact:Julie DavisLiquidity
Services202.558.6234julie.davis@liquidityservices.com
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