Hicks Acquisition Company II, Inc. Announces Planned Redemption Of Publicly-Held Common Stock And Planned Subsequent Dissolution
Hicks Acquisition Company II, Inc. (Nasdaq: HKAC) ("HACII") announced today that it has ceased operations except for the purpose of winding up and redeeming, in accordance with its certificate of incorporation, its outstanding publicly-held shares of common stock at a per-share price, payable in cash, equal to the aggregate amount on deposit in HACII's trust account, net of franchise and income taxes payable and certain amounts payable for dissolution expenses. The record date for the redemption payment is set as July 14, 2012 and, therefore, anyone who purchases shares of HACII common stock after this date will not be entitled to receive any redemption payments. HACII's outstanding warrants have expired without any value and the holders thereof will not be entitled to any redemption payments. As promptly as possible following such redemption, HACII will dissolve. Under HACII's certificate of incorporation, it had until July 14, 2012 to either consummate a business combination or commence proceedings to dissolve.
Nasdaq has also orally informed HACII that it intends to currently halt trading in all of HACII's securities listed on the Nasdaq Capital Market and to formally delist HACII's securities upon its dissolution.
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