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Chromcraft Revington Inc Announces Sale To Sport-haley Holdings, Inc


Tuesday, 1 Oct 2013 09:25am EDT 

Chromcraft Revington Inc announced that it has entered into an Agreement and Plan of Merger with Sport-Haley Holdings, Inc. (OTC Pink Marketplace: SPOR) for the sale of the Company. Under the terms of the agreement, Sport-Haley will acquire all of the outstanding shares of common stock of Chromcraft for $3.45 million consisting of $2.7 million payable in cash at closing and $0.75 million payable in cash upon the earlier of 180 days following the closing or the sale or satisfactory mortgage of Chromcraft`s plant located in Delphi, Indiana. The total purchase price will equal approximately $.54 per share. The acquisition is subject to the approval of the stockholders of Chromcraft, financing contingencies and certain other conditions provided in the definitive agreement. The acquisition is expected to close in the fourth quarter of 2013. 

Company Quote

0.45
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19 Nov 2013