NYSE Halts Shares of LSB Industries, Inc. Due to Stock Dividend Price Adjustment
October 12 2021 - 1:43PM
Business Wire
LSB Industries, Inc. (“LSB” or “the Company”), (NYSE: LXU),
today announced that the New York Stock Exchange halted trading on
LSB’s common stock in order to address the stock price adjustment
applied to the Company’s common stock as a result of the fact that
the 49,066,005 shares of common stock issued to LSB Funding LLC, an
affiliate of Eldridge, in the exchange transaction that closed on
September 27, 2021 did not receive the dividend because such shares
were not outstanding on the dividend record date of September 24,
2021. We are currently working with the NYSE to address the stock
price adjustment in order to enable the Company’s common stock to
commence trading.
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma,
manufactures and sells chemical products for the agricultural,
mining, and industrial markets. The Company owns and operates
facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor,
Oklahoma, and operates a facility for a global chemical company in
Baytown, Texas. LSB’s products are sold through distributors and
directly to end customers primarily throughout the United States.
Additional information about the Company can be found on its
website at www.lsbindustries.com.
About Eldridge
Eldridge invests in businesses across the Insurance, Asset
Management, Technology, Mobility, Sports & Gaming, Media &
Music, Real Estate, and Consumer landscapes. The firm seeks to
build and grow businesses led by proven management teams that have
demonstrated leadership and experience to scale an enterprise.
Eldridge is headquartered in Greenwich, Connecticut, with
additional offices in Beverly Hills, New York, and London.
Additional information about Eldridge can be found on its website
at www.eldridge.com.
Forward-Looking Statements
Statements in this release that are not historical are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are subject to known and unknown risks,
uncertainties and assumptions about us, may include projections of
our future financial performance including the effects of the
COVID-19 pandemic and anticipated performance based on our growth
and other strategies and anticipated trends in our business. These
statements are only predictions based on our current expectations
and projections about future events. There are important factors
that could cause our actual results, level of activity, performance
or actual achievements to differ materially from the results, level
of activity, performance or anticipated achievements expressed or
implied by the forward-looking statements. Significant risks and
uncertainties may relate to, but are not limited to, our ability to
consummate the exchange transaction on the terms described herein
and in the definitive proxy statement referred to herein or at all,
business and market disruptions related to the COVID-19 pandemic,
market conditions and price volatility for our products and
feedstocks, as well as global and regional economic downturns,
including as a result of the COVID-19 pandemic, that adversely
affect the demand for our end-use products; disruptions in
production at our manufacturing facilities; and other financial,
economic, competitive, environmental, political, legal and
regulatory factors. These and other risk factors are discussed in
the Company’s filings with the Securities and Exchange Commission
(“SEC”), including its Annual Report on Form 10-K for the year
ended December 31, 2020.
Moreover, we operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible for our management to predict all risks and
uncertainties, nor can management assess the impact of all factors
on our business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from
those contained in any forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results,
level of activity, performance or achievements. Neither we nor any
other person assumes responsibility for the accuracy or
completeness of any of these forward-looking statements. You should
not rely upon forward-looking statements as predictions of future
events. Unless otherwise required by applicable laws, we undertake
no obligation to update or revise any forward-looking statements,
whether because of new information or future developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20211012006040/en/
Company Contact: Cheryl Maguire, Executive Vice President
& CFO (405) 510-3524
Fred Buonocore, CFA, Vice President of Investor Relations (405)
510-3550 fbuonocore@lsbindustries.com
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