Thresher Industries, Inc. Completes Capital Restructuring.
The 1-for-4,000 reverse stock split will convert 4,000 shares of the Company's common stock into 1 share of common stock. The reverse stock split affects all issued and outstanding shares of the Company's common stock immediately prior to the effectiveness of the reverse stock split.
Information for Stockholders
Upon execution, Thresher stockholders will receive one new share of Thresher common stock for every four thousand shares held. Registered holders of Thresher common stock will receive a letter of transmittal shortly after the effective date with instructions for the exchange of stock certificates. Stockholders with shares in brokerage accounts will be contacted by their brokers with instructions.
Thresher will not issue fractional shares as a result of the reverse stock split. Any fractional post-split Shares from the reverse stock split shall be rounded up to the nearest whole post-split Share if equal to or greater than one half (1/2) of a post-split Share, and rounded down to the nearest whole post-split Share if less than one half (1/2) of a post-split Share, with no change in the par value of Shares.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
CONTACT: Investor Relations of Thresher Industries, Inc., +1-866-THE-APPL(E)
Web site: http://www.thresherindustries.com/