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not previously withdrawn will be accepted for exchange pursuant to the terms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Class B Common Stock be tendered and not properly withdrawn in the exchange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.
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