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Epic, an Out-of-the-Box Pink Sheet Company, Announced the Successful Conclusion of Its Second Exchange Offer, Its 10th Consecutive Preferred Stock Dividend, and Its Recapitalization and Reorganization
Epic, an Out-of-the-Box Pink Sheet Company, Announced the Successful Conclusion of Its Second Exchange Offer, Its 10th Consecutive Preferred Stock Dividend, and Its Recapitalization and Reorganization.
About this update from Epic Corporation Colo
[{"type":"text","content":"\nEpic, an Out-of-the-Box Pink Sheet Company, Announced the Successful Conclusion of Its Second Exchange Offer, Its 10th Consecutive Preferred Stock Dividend, and Its Recapitalization and Reorganization\n\nEpic, an Out-of-the-Box Pink Sheet Company, Announced the Successful Conclusion of Its Second Exchange Offer, Its 10th Consecutive Preferred Stock Dividend, and Its Recapitalization and Reorganization\n\nAUSTIN, TX--(Marketwired - August 08, 2015) - EPIC Corporation (OTC PINK: EPOR) and Ronald Tucker its CEO announced “the successful conclusion of its Second Exchange Offer, the declaration of its 10th consecutive preferred stock dividend, and as an out-of-the-box non reporting Pink Sheet company, the recent sell off of the Company’s common stock provides an opportunity to recapitalize the Company to reflect its uniqueness. In order to make the company standout from other Pink Sheet companies, the Board of Directors, in the best interests of the shareholders of its common stock and the Company, have authorized the recapitalization and reorganization of the Company.”“The recapitalization of the Company will be a reverse stock split of the common stock,” said Mr. Tucker. “The reverse stock split will be on the basis of 1:10. A holder of 100 shares of common stock will receive 10 shares of the post split common stock The effective date of the reverse stock split will be August 26, 2015. The reverse stock split will have no effect on the Preferred Stock or its conversion rate.”The decision for the reverse stock split is due to the massive sell-off the Company’s common stock over the last month. The massive sell-off was not something management desired, but it does provide the Company with an opportunity to achieve a market value more in line with its Enterprise Value, and possibly the ability to raise equity capital.The Board of Directors has authorized the 10th consecutive preferred stock dividend in common stock equal to 12.5% of the issued and outstanding shares of preferred stock held by shareholders on September 24, 2015, and paid out on or before September 30, 2015.Register for direct updates from the company at http://www.epiccor.com/Investors.html. EPIC is an “out of the box” Pink Sheet Company. What other Pink Sheet company has paid a stock dividends in its own an...