AgroFresh Solutions Announces Repurchase Program For Publicly-Traded Warrants
September 10 2015 - 4:05PM
Business Wire
AgroFresh Solutions, Inc. (“AgroFresh” or the “Company”)
(NASDAQ: AGFS, AGFSW) announced today that its Board of Directors
has approved a warrant repurchase program, authorizing AgroFresh to
repurchase, in the aggregate, up to $2.5 million of its
publicly-traded warrants to purchase common stock. AgroFresh
currently has approximately 11.0 million public warrants
outstanding. The warrant repurchase program will remain in effect
until May 31, 2016, unless terminated earlier by the Board of
Directors.
Thomas Macphee, AgroFresh Chief Executive Officer, stated, “This
authorization underscores our confidence in the strength of the
business and our strong belief that AgroFresh presents a compelling
investment opportunity. The execution of the authorization will
serve to maximize value for our shareholders.”
Under the program authorized by the Board of Directors, warrant
repurchases may be made on the open market or through private
transactions, as determined by the Company's management and in
accordance with prevailing market conditions and Securities and
Exchange Commission requirements. The Company expects to adopt one
or more purchase plans pursuant to Rule 10b5-1 under the Securities
Exchange Act of 1934, as amended, in order to implement the warrant
repurchase program. The timing and amount of any warrant
repurchases will depend on the terms and conditions contained in
any such 10b5-1 Plan adopted by the Company, the market price of
the Company’s warrants and trading volumes, and no assurance can be
given that any particular amount of warrants will be repurchased.
The Company is not obligated to acquire a particular number of
warrants, and the program may be discontinued at any time at the
Company's discretion.
About AgroFresh
AgroFresh Solutions, Inc. (NASDAQ: AGFS) is a global industry
leader in providing innovative data-driven specialty solutions
aimed at enabling growers and packers of fresh produce to preserve
and enhance the freshness, quality and value of fresh produce and
to maximize the percentage of produce supplied to the market
relative to the amount of produce grown. Its flagship product is
the SmartFresh™ Quality System, a freshness protection technology
proven to maintain firmness, texture and appearance of fruits
during storage and transport. SmartFresh is currently
commercialized in 45 countries worldwide. For more information,
please visit http://www.agrofresh.com/home
Forward-Looking Statements
In addition to historical information, this release may contain
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this release that
address activities, events or developments that the Company expects
or anticipates will or may occur in the future are forward-looking
statements and are identified with, but not limited to, words such
as “anticipate”, “believe”, “expect”, “estimate”, “plan”,
“outlook”, and “project” and other similar expressions (or the
negative versions of such words or
expressions). Forward-looking statements include, without
limitation, information concerning the Company’s possible or
assumed future results of operations, business strategies,
competitive position, industry environment and potential growth
opportunities. These statements are based on management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events. Such forward-looking statements are
subject to known and unknown risks, uncertainties, assumptions and
other important factors, many of which are outside the Company’s
management’s control that could cause actual results to differ
materially from the results discussed in the forward-looking
statements. These risks include, without limitation, the risk that
the business combination between the Company and The Dow Chemical
Company (the “Business Combination”) disrupts current plans and
operations; the Company’s ability to recognize the anticipated
benefits of the Business Combination, which may be affected by,
among other things, competition and the ability of the combined
business to grow and manage growth profitably; costs related to the
Business Combination and/or related to operating AgroFresh as a
stand-alone public company; changes in applicable laws or
regulations, and the possibility that the Company may be adversely
affected by other economic, business, and/or competitive factors.
Additional risks and uncertainties are identified and discussed in
the Company’s filings with the SEC (available at www.sec.gov),
including the definitive proxy statement filed on July 16,
2015 with the SEC in connection with the Business Combination and
available at the SEC’s website at www.sec.gov.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150910006674/en/
AgroFresh Solutions, Inc.Sloane & CompanyErica Bartsch,
212-446-1875ebartsch@sloanepr.com
AgroFresh Solutions (NASDAQ:AGFS)
Historical Stock Chart
From Jun 2024 to Jul 2024
AgroFresh Solutions (NASDAQ:AGFS)
Historical Stock Chart
From Jul 2023 to Jul 2024