Distribution Solutions Group Declares Two-for-One Stock Split
August 15 2023 - 7:30PM
Business Wire
Distribution Solutions Group, Inc. (Nasdaq: DSGR) ("DSG" or
the "Company") announced today that its Board of Directors has
approved and declared a two-for-one split (the “Stock Split”) of
the Company’s common stock, $1.00 par value per share (the “Common
Stock”). The Stock Split will entitle each stockholder of record as
of the close of business on August 25, 2023 to receive one
additional share of Common Stock (a “Share”) for each share of
Common Stock then held, to be distributed by the Company’s transfer
agent Computershare after the close of trading on August 31, 2023.
Stockholders do not need to exchange existing stock certificates to
receive additional Shares.
Based on the number of shares of Common Stock currently
outstanding, the Company will have 46,699,470 shares of Common
Stock outstanding on a split-adjusted basis and anticipates the
Shares to begin trading on The Nasdaq Global Select Market on a
split-adjusted basis at the start of trading hours on September 1,
2023. Any shares of Common Stock purchased between the August 25,
2023, record date and the August 31, 2023, distribution date will
come with a “due-bill” entitling the buyer to one additional Share
for each shares of Common Stock so purchased.
Bryan King, DSG CEO and Chairman of the Board, commented: “We
believe that the two-for-one stock split demonstrates our continued
confidence in the long-term growth and financial performance of
DSG. We anticipate that the adjusted price per share, resulting
from the stock split, will help promote new investor interest and
continue to enhance our stock’s liquidity in the market. We view
this stock split as further evidence of our commitment of enhancing
shareholder value, building long-term profitability, and generating
incremental cash flow.”
About Distribution Solutions Group,
Inc.
DSG is a premier multi-platform specialty distribution company
providing high touch, value-added distribution solutions to the
maintenance, repair & operations (MRO), the original equipment
manufacturer (OEM) and the industrial technologies markets. DSG was
formed through the strategic combination of Lawson Products, a
leader in MRO distribution of C-parts, Gexpro Services, a leading
global supply chain services provider to manufacturing customers,
and TestEquity, a leader in electronic test & measurement
solutions.
Through its collective businesses, DSG is dedicated to helping
customers lower their total cost of operation by increasing
productivity and efficiency with the right products, expert
technical support and fast, reliable delivery to be a one-stop
solution provider. DSG serves approximately 170,000 customers in
several diverse end markets supported by approximately 3,800
dedicated employees and strong vendor partnerships. DSG ships from
strategically located distribution and service centers to customers
in North America, Europe, Asia, South America and the Middle
East.
For more information on Distribution Solutions Group please
visit www.distributionsolutionsgroup.com.
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that involve risks and uncertainties. The terms “aim,”
“anticipate,” “believe,” “contemplates,” “continues,” “could,”
“ensure,” “estimate,” “expect,” “forecasts,” “if,” “intend,”
“likely,” “may,” “might,” “objective,” “outlook,” “plan,”
“positioned,” “potential,” “predict,” “probable,” “project,”
“shall,” “should,” “strategy,” “will,” “would,” and other words and
terms of similar meaning and expression are intended to identify
forward-looking statements. Forward-looking statements can also be
identified by the fact that they do not relate strictly to
historical or current facts. Such forward-looking statements are
based on current expectations and involve inherent risks,
uncertainties and assumptions, including factors that could delay,
divert or change any of them, and could cause actual outcomes to
differ materially from current expectations. DSG can give no
assurance that any goal or plan set forth in forward-looking
statements can be achieved and DSG cautions readers not to place
undue reliance on such statements, which speak only as of the date
made. DSG undertakes no obligation to release publicly any
revisions to forward-looking statements as a result of new
information, future events or otherwise. Actual results may differ
materially from those projected as a result of certain risks and
uncertainties. Certain risks associated with DSG’s business are
also discussed from time to time in the reports DSG files with the
SEC, including DSG’s Annual Report on Form 10-K, DSG’s Quarterly
Reports on Form 10-Q and DSG’s Current Reports on Form 8-K. In
addition, the following factors, among others, could cause actual
outcomes and results to differ materially from those discussed in
the forward-looking statements: (i) unanticipated difficulties,
expenditures or any problems arising after combining the businesses
of Lawson Products, TestEquity and Gexpro Services (the “merger”),
which may result in DSG not operating as effectively and
efficiently as expected; (ii) the risk that stockholder litigation
arising from or in connection with the merger results in
significant costs of defense, indemnification and liability; and
(iii) other risks and uncertainties relating to the merger,
including the risks that DSG may encounter difficulties in fully
integrating the business of DSG and Hisco and that DSG may not
achieve the synergies contemplated with respect to the merger.
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version on businesswire.com: https://www.businesswire.com/news/home/20230815455620/en/
Company Contact: Distribution Solutions Group, Inc.
Ronald J. Knutson Executive Vice President, Chief Financial Officer
and Treasurer 773-304-5665
Investor Relations Contacts: Three Part Advisors, LLC
Steven Hooser or Sandy Martin 214-872-2710
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