Outdoor Channel Holdings to Voluntarily Delist from NASDAQ Global Select Market
Outdoor Channel Holdings (NASDAQ: OUTD) (the "Company") today announced that it has submitted written notice to the NASDAQ Global Select Market ("NASDAQ") of its intention to voluntarily delist its common stock, par value $0.001 per share from NASDAQ.
As previously announced, on November 15, 2012, the Company entered into a merger agreement with InterMedia Outdoors Holdings, LLC ("IMOTSC"), InterMedia Outdoor Holdings, Inc. ("IMOH"), and certain indirect wholly-owned subsidiaries of IMOTSC, pursuant to which the Company and IMOTSC will become wholly-owned subsidiaries of IMOH and, as a result, a trading market for Company common stock will cease. If the stockholders of the Company approve the merger agreement at the Special Meeting of Stockholders to be held on March 13, 2013, the Company expects the transaction to be completed on or about March 14, 2013, following which point the common stock of IMOH is expected to be listed for trading on NASDAQ.
The Company intends to file a Form 25 with the Securities and Exchange Commission (the "SEC") to delist its common stock effective shortly following the closing of the transaction. The Company further intends to file a Form 15 with the SEC following the closing of the transaction in order