Genie Energy Ltd., GNE will renew an offer to exchange up to
7,145,409 shares of its outstanding Class B Common Stock for shares of its
Series 2012-A Preferred Stock.
The Company's offer will be on the same terms as the previous exchange offer,
which closed on October 10, 2012 with the exchange of 1,604,591 shares of
Class B Common Stock for an equal number of shares of Preferred Stock. The
renewed offer will cover approximately one-third of the outstanding common
stock, and Howard Jonas, Chairman and controlling stockholder, will not
exchange any shares of common stock he owns or controls. The exchange will
again be on a one-for-one basis.
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