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Sport-Haley Holdings, Inc Announces Completion Of Merger With Chromcraft Revington, Inc


Friday, 8 Nov 2013 04:23pm EST 

Sport-Haley Holdings, Inc announced that it has completed its previously announced merger with Chromcraft Revington, Inc. In accordance with the terms of the merger agreement, Chromcraft has become a wholly owned direct subsidiary of Sport-Haley. Under the terms of the agreement, Sport-Haley has acquired all of the outstanding shares of common stock of Chromcraft for $3.45 million consisting of $2.7 million in cash, paid at closing, and $0.75 million in cash payable 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 equaled approximately $0.56 per share. Consequently, effective as of the close of business on November 8, 2013, Chromcraft's common stock will no longer be traded on the OTC Pink Marketplace. 

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