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GlobeNewsWire
1 year ago
EVERCEL Announces Additional Liquidating Distribution and Implementation of Liquidating Trust
NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Evercel, Inc. [OTC EXPERT MARKET: EVRC] Evercel, Inc. (the “Company”) announced today that it would continue to implement its Plan of Liquidation and Dissolution by making an additional cash liquidating distribution to the Company's stockholders and transferring its primary asset – an indirect interest in ZAGG – to a liquidating trust (the “Trust”) for future additional liquidating distributions to the stockholders. The Company set a record date of February 20, 2024 for the immediate additional liquidating distribution and anticipates an effective payment date of February 23, 2024 for such distribution, which distribution will be in the amount of approximately $7,500,000 (approximately $0.28 per share of common stock).
