Smith Investment Completes Spin-Off Transaction
(Pink Sheets: SMIC) announced today that, to facilitate the proposed merger
between Smith Investment and a subsidiary of A. O. Smith Corporation, Smith
Investment distributed to the Smith Investment stockholders, in a previously
announced taxable spin-off transaction, substantially all of Smith
Investment’s assets and liabilities, other than its shares of
The spin-off transaction became effective at
unit in Smith Investment Company LLC, a limited liability company formed for
purposes of the spin-off transaction, for each share of Smith Investment
common stock held as of
spin-off transaction.
Smith Investment has distributed an information statement with respect to
the spin-off transaction to the Smith Investment stockholders as of the record
date. The information statement contains information about the spin-off
transaction and Smith Investment Company LLC. Smith Investment stockholders
are urged to read the information statement carefully because it contains
important information regarding the spin-off transaction and Smith Investment
Company LLC.
Membership units in Smith Investment Company LLC are subject to
significant transfer restrictions intended to prevent public trading in the
membership units and can only be transferred in certain specific limited
circumstances set forth in Smith Investment Company LLC’s operating agreement
and described in the information statement distributed to Smith Investment
stockholders.
About Smith Investment Company
Smith Investment Company (SMIC – PK), headquartered in
Wisconsin
This document shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.
SOURCE Smith Investment Company