Genie Energy Announces Extension of Exchange Offer and Waiver of the Minimum Condition

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Genie Energy
GNE
announced that the expiration date for its pending exchange offer of up to 8,750,000 shares of Class B Common Stock for shares of Series 2012-A Preferred Stock on a one for one basis, has been extended to Tuesday, September 25, 2012 at 5:00 p.m., New York City time. On the expiration date, all validly tendered shares of Genie Class B Common Stock not previously withdrawn will be accepted for exchange pursuant to the terms of the exchange offer. Genie also announced that it is waiving the condition that in order to consummate the offer to exchange at least 4,375,000 shares of Class B Common Stock be tendered and not properly withdrawn in the exchange offer. The Company intends to list the newly issued preferred stock on the NYSE or, depending on the volume of shares issued in the exchange offer, another securities exchange or in the over-the-counter market.
Posted In: NewsFinancing
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