Badger Paper Mills, Inc. Terminates Merger Negotiations, Deregisters under Securities Exchange Act of 1934 and Pursues Other Alternatives.PESHTIGO, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. . -- Badger badger, name for several related members of the weasel family. Most badgers are large, nocturnal, burrowing animals, with broad, heavy bodies, long snouts, large, sharp claws, and long, grizzled fur. Paper Mills, Inc. ("Badger Paper Mills" or the "Company"), manufacturer of flexible packaging and specialty papers, today announced that the previously announced letter of intent with James D. Azzar, providing for the acquisition of Badger Paper Mills through a merger has been terminated. Badger Paper Mills also announced that it has terminated its registration under the Securities Exchange Act and has taken action to delist delist To drop a security from trading on an organized exchange. Delisting may occur for a number of reasons including failure to meet an exchange's standards or placement of a new listing on another exchange. Compare list. its common stock from The Nasdaq Small Cap Market. Termination of Merger Negotiations Under the terms of the Azzar letter of intent, Badger Paper Mills' shareholders would have received $1.25 in cash per share of Badger Paper Mills common stock. Following protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. negotiations with Mr. Azzar, however, the parties were unable to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... a definitive agreement. Deregistration deregistration removal of right to practice by local registering body, usually as a disciplinary measure because of professional misconduct, possibly because of inability to perform because of psychiatric problem. of Badger Paper Mills Badger Paper Mills also has deregistered as a reporting company with the U.S. Securities and Exchange Commission under the Securities Exchange Act of 1934. Badger Paper Mills expects the deregistration to become effective within 90 days of the filing with the SEC. As a result of the filing, Badger Paper Mills' obligation to file with the SEC certain reports and forms, including Forms 10-K, 10-Q, and 8-K, will be immediately suspended and upon effectiveness will cease. In connection with the deregistration, Badger Paper Mills also is taking action to have its common stock delisted from The Nasdaq Small Cap Market. Other Alternatives The Company is actively negotiating with interested parties as it continues to pursue alternatives. |
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