Thugmuffin
3 년 전
$ELLH Elah Holdings, Inc. Announces Update to Board of DirectorsPress Release | 05/09/2022
Elah Holdings, Inc. Announces Update to Board of Directors
PR Newswire
DALLAS, May 9, 2022
Richard A. Shapiro Appointed to Board; Brian Laibow Departs
DALLAS, May 9, 2022 /PRNewswire/ -- Elah Holdings, Inc. (OTC:ELLH) announced today the appointment of new independent director and the resignation of an existing member.
Elah Holdings, Inc. Logo (PRNewsfoto/Elah Holdings, Inc.)
Richard A. Shapiro has been appointed as a Class I director to the Elah Holdings Board of Directors, effective May 3, 2022. Mr. Shapiro has an almost three decade career in investment management and is currently the Founder and Chief Investment Officer of Ridge Run Partners, LLC. Formerly, he was a Managing Director of Millennium Management LLC and a Partner, Portfolio Manager and Co-Head of Equities at Wexford Capital LP. From 2015 – 2020, he served on the board of directors of BBQ Holdings, Inc. (Nasdaq: BBQ), including as Compensation Committee chair and a member of the Nominating & Governance Committee.
Brian Laibow has resigned from the Board, effective May 6, 2022, in light of his other professional obligations. Mr. Laibow, Managing Director and Co-Head of North America for the Global Opportunities strategy at Oaktree Capital Management, L.P. ("Oaktree"), has served on Elah Holdings' Board since May 2018 as a Class III director.
"Elah is excited to welcome Rich to the Board, and we look forward to his assistance in assessing potential acquisition candidates," said Clark Webb, Chairman of the Board. "At the same time, we thank Brian for his contributions to the Board and his years of service to Elah. He and Oaktree have been wonderful partners."
As a result of these changes, the Company's Board is comprised of five members, all of whom are independent.
More biographical information on biographical can be found at www.elahholdings.com under the Directors section of the website.
About Elah Holdings
Elah Holdings, Inc. is a holding company led by experienced business leaders that is seeking to acquire profitable businesses in the commercial and industrial markets to generate sustainable profitability and cash flows, unlock the value of our considerable tax assets, and use creative deal structures that reduce risk and ultimately create long-term value for our shareholders. For more information, visit www.elahholdings.com. Elah Holdings' stock trades on the OTC Pink Market, which is operated by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities under the symbol "ELLH."
Contact:
Michael Hobey
Elah Holdings, Inc.
+1 (805) 435-1255
@elah_inc
www.linkedin.com/company/elah-holdings-inc/
View original content to download multimedia:https://www.prnewswire.com/news-releases/elah-holdings-inc-announces-update-to-board-of-directors-301542881.html
AskMuncher
4 년 전
$ELLH Elah Holdings, Inc. Releases Second Quarter 2020 Report to Stockholders
Press Release | 08/17/2020
Elah Holdings, Inc. Releases Second Quarter 2020 Report to Stockholders
Financial Statements for Q2 2020
PR Newswire
DALLAS, Aug. 14, 2020
DALLAS, Aug. 14, 2020 /PRNewswire/ -- Elah Holdings, Inc. (OTC:ELLH) has released its interim unaudited report for the second quarter of 2020. This report and additional company information can be found at www.elahholdings.com under the Financial Releases section of the website.
Elah Holdings, Inc. Logo (PRNewsfoto/Elah Holdings, Inc.)
About Elah Holdings
Elah Holdings, Inc. (formerly known as Real Industry, Inc.) is a reorganized holding company led by experienced business leaders that is seeking to acquire profitable businesses in the commercial and industrial markets to generate sustainable profitability and cash flows, unlock the value of our considerable tax assets, and use creative deal structures that reduce risk and ultimately create long-term value for our shareholders. For more information, visit by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities under the symbol "ELLH."
AskMuncher
4 년 전
$ELLH Elah Holdings, Inc. Releases Second Quarter 2020 Report to Stockholders
Press Release | 08/17/2020
Elah Holdings, Inc. Releases Second Quarter 2020 Report to Stockholders
Financial Statements for Q2 2020
PR Newswire
DALLAS, Aug. 14, 2020
DALLAS, Aug. 14, 2020 /PRNewswire/ -- Elah Holdings, Inc. (OTC:ELLH) has released its interim unaudited report for the second quarter of 2020. This report and additional company information can be found at www.elahholdings.com under the Financial Releases section of the website.
Elah Holdings, Inc. Logo (PRNewsfoto/Elah Holdings, Inc.)
About Elah Holdings
Elah Holdings, Inc. (formerly known as Real Industry, Inc.) is a reorganized holding company led by experienced business leaders that is seeking to acquire profitable businesses in the commercial and industrial markets to generate sustainable profitability and cash flows, unlock the value of our considerable tax assets, and use creative deal structures that reduce risk and ultimately create long-term value for our shareholders. For more information, visit by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities under the symbol "ELLH."
Enterprising Investor
6 년 전
Elah Holdings, Inc. Releases Third Quarter 2018 Report to Stockholders (11/16/18)
Financial Statements for Q3 2018
DALLAS, Nov. 16, 2018 /PRNewswire/ -- Elah Holdings, Inc. (OTC: ELLH) has released their 3rd Quarter 2018 Financial Report to Stockholders. This report can be found at www.elahholdings.com under the Financial Releases section of the website.
About Elah Holdings
Elah Holdings is a recently reorganized holding company led by experienced business leaders that is seeking to acquire profitable businesses in the commercial and industrial markets to generate sustainable profitability and cash flows, unlock the value of our considerable tax assets, and use creative deal structures that reduce risk and ultimately create long-term value for our shareholders. Elah Holdings was formerly known as Real Industry, Inc., which completed a Plan of Reorganization on May 9, 2018 (POR). Under the terms of the POR, the Company's name was changed, all existing common stock was cancelled and new stock was issued, a new investor group made a sizable equity infusion, and five new members were appointed to the Board of Directors, each highly experienced in financings and mergers and acquisitions. For more information, visit www.elahholdings.com. Elah Holdings' stock trades on the OTC Pink Market, which is operated by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities under the symbol "ELLH."
Contact:
Michael Hobey
Elah Holdings, Inc.
+1 (805) 435-1255
https://www.prnewswire.com/news-releases/elah-holdings-inc-releases-third-quarter-2018-report-to-stockholders-300752145.html
Enterprising Investor
7 년 전
Real Industry Completes Reorganization Under Chapter 11 (5/09/18)
Changes Name to Elah Holdings, Inc.
Well positioned to execute acquisition business strategy with strong cash balance and zero debt
EACHWOOD, Ohio--(BUSINESS WIRE)--Real Industry, Inc. (the “Company”) today announced its emergence from bankruptcy proceedings. The Company has met all requirements for the completion of its plan of reorganization under Chapter 11 of the Bankruptcy Code, as amended and approved by the United States Bankruptcy Court for the District of Delaware (the “Plan”). The effective date of the Plan is May 9, 2018.
In connection with the Plan, the Company adopted new organizational documents, and changed its name to Elah Holdings, Inc.
Key features of the Plan include:
- The common stock of the Company has been recapitalized, with 2.5 million shares of capital stock authorized
- 210/RELY Partners, LP (“210 Partners”), Goldman Sachs BDC, Inc., Goldman Sachs Private Middle Market Credit LLC and Goldman Sachs Middle Market Lending Corp. acquired newly issued common stock for an aggregate purchase price of $17.5 million, totaling approximately 49% of the Company, with a portion of the proceeds used to repay the Company’s debtor-in-possession (DIP) financing in full
- The holder of the Company’s Series B Preferred Stock received $2.0 million in cash consideration plus newly issued common stock, totaling 31% of the Company, in exchange for the cancellation of its Series B Preferred Stock
- Each holder of Real Industry common stock is receiving one share of common stock for each of its 200 shares before the effective date, and in the aggregate, the common stockholders are collectively receiving 20% of the new common stock
- The new Board of Directors of the Company includes Robert Alpert, C. Clark Webb, Brian Laibow, Douglas Tabor and Randy Brown
The Company will seek to generate long term shareholder value through the continuation of its strategy of seeking profitable acquisitions and generate increased free cash flow from the utilization of its tax assets.
The Company’s subsidiary, Real Alloy Holding, Inc., expects to emerge from its Chapter 11 proceedings in the second quarter of 2018 at which time the Company will abandon its equity interests in this subsidiary.
Management Comments
C. Clark Webb, the Company’s new Chairman of the Board, stated, “We are pleased that the Company has emerged from these proceedings, and we look forward to working with the Company’s management team to create long-term shareholder value.”
Additional Information on the Chapter 11 Proceedings
Court filings and other information related to the court-supervised proceedings are available at a website administered by the Company’s claims agent, Prime Clerk, at https://cases.primeclerk.com/realindustry.
https://www.businesswire.com/news/home/20180509006484/en/Real-Industry-Completes-Reorganization-Chapter-11
TenKay
7 년 전
RELYQ shares cancelled, symbol removed
http://otce.finra.org/DLDeletions
Bankruptcy
"Each outstanding share common stock will be cancelled and will be entitled to receive shares of common stock of the Company, at a rate of 1 share for 200 shares. No cash in lieu of fractional shares, and fractional shares will be rounded up to the nearest whole share at 0.51 shares, and down from 0.50 shares. From and after the effective date, the new name of the Company will be “Elah Holdings, Inc.”"
Enterprising Investor
7 년 전
Plan Confirmation and Treatment of Claims and Interests (5/02/18)
[Edited]
The Bankruptcy Court entered an order confirming the Company’s amended plan of reorganization. The Confirmation Order is subject to a stay that will expire at 12:01 a.m. on 5/09/18 The Effective Date will occur on 5/09/18.
The following is a summary of the material terms of the RI Plan.
The RI Plan generally provides for the payment in full of all timely filed and undisputed claims held by the Company’s secured and unsecured creditors, with secured creditors’ claims to be paid in full in cash or as otherwise permissible by the Bankruptcy Code, and each of unsecured priority claims and general unsecured creditors’ claims to be paid in full in cash or otherwise as the holders of such claims agree.
Under the RI Plan, because Class 5 voted to approve the Proposed RI Plan, the holders of the Common Stock interests that are outstanding prior to the Effective Date will receive their pro rata share of 20% of the common stock of the Company (the “New Common Stock”) to be issued and outstanding as of the Effective Date in full satisfaction, release and discharge of and in exchange for such allowed common interests. The holders of the Company’s Series B Preferred interests will, in addition to a $2 million cash payment, receive 31% of the New Common Stock as of the Effective Date in full satisfaction, release and discharge of and in exchange for such the Series B Preferred shares.
Further, as provided in the RI Plan, as of the Effective Date, the Reorganized Company will issue the number of shares, in the aggregate, that is equal to 49% of the New Common Stock to those entities (or their affiliates) who provided the Company’s debtor-in-possession financing (the “DIP Facility”) and sponsors of the Proposed RI Plan (the “SPA Investors”) for $17.5 million, less the amount of outstanding principal and interest on the DIP Facility, pursuant to a Securities Purchase Agreement to be entered into with such parties on the Effective Date (the “SPA”). The funding of payments to the Company’s creditors, the $2 million cash settlement to the holder of the Company’s Series B Preferred interests and other costs and expenses necessary to consummate the RI Plan shall be made from the proceeds of such sale to the SPA Investors. Holders of warrant interests shall receive in full satisfaction, settlement, release and discharge of and exchange for such allowed warrant interests, $0.09 per warrant, and such warrants shall be cancelled on the Effective Date. All option contracts, other warrant interests and other equity interests not already exercised, converted or exchanged for the Common Stock are otherwise to be terminated under the RI Plan as of the Effective Date.
On the Effective Date, the Company will adopt new organizational documents, which include a change of the Company’s name to “ELAH Holdings, Inc.”, and the board of directors of the Reorganized Company will be fixed at five persons in a three-class, classified board structure. These five directors will be appointed as of the Effective Date: two to be appointed by the SPA
Investors, one to be appointed by the holder of the Company’s Series B Preferred Interests, one who has been selected by the Company to represent existing common stock interest holders, and one independent director. On the Effective Date, the officers of the Company will continue to serve as officers of the Reorganized Company.
The Reorganized Company’s revised organizational documents will continue to have similar transfer restrictions on any transfer of shares that would result in a holder obtaining 4.9 percent or greater of the total outstanding issued New Common Stock that presently are contained in the Company’s Amended and Restated Bylaws.
The RI Plan further provides that the Reorganized Company will abandon the equity interests in RAIH upon the earlier of the consummation of the sale of the assets of Real Alloy or 6/30/18.
The foregoing descriptions of the Confirmation Order and RI Plan do not purport to be complete and are qualified in their entirety by reference to the Confirmation Order and RI Plan attached hereto as Exhibit 99.1 and 2.1, respectively, and incorporated herein by reference.
As set forth under the RI Plan, on the Effective Date, the shares of Common Stock will be cancelled, and holders of such shares of Common Stock of the Company will receive one share of New Common Stock for each 200 shares of Common Stock held. As provided in the RI Plan, fractional shares created by such 1:200 exchange ratio will be rounded up at 0.51 shares or more and down at 0.50 shares or less, and there will be no cash payment in lieu of fractional shares. Therefore, holders of 100 or fewer shares of Common Stock prior to the Effective Date will receive no shares or cash as a result of the action in the RI Plan. In connection with the processing of the reorganized capitalization of the Company by the Company’s transfer agent, FINRA, and the Depository Trust Company, the Company anticipates there may be a period of time in which the Common Stock and New Common Stock may have suspended trading or trade on a very limited basis, while the administration of the new capitalization as set forth in the RI Plan is being implemented.
Further, as previously disclosed, under the Proposed RI Plan and RI Plan, the Company intends to deregister its common stock from reporting with the Securities and Exchange Commission (“SEC”) and expects to file a Form 15 with the SEC as soon as practicable. The Company expects that the common stock of the Reorganized Company will continue to trade, subject to the foregoing paragraph, on the Over The Counter Pink Sheets.
Cautionary Note Regarding the Company’s Common Stock
The Company cautions that trading in its securities during the pendency of the Chapter 11 Proceedings and through the Effective Date is highly speculative and poses substantial risks.
Additional Information on the Chapter 11 Proceedings
Court filings and other information related to the court-supervised proceedings are available at a website administered by the Company’s claims agent, Prime Clerk, at https://cases.primeclerk.com/realindustry. Additional information on Real Industry can be found at its website www.realindustryinc.com.
https://www.sec.gov/Archives/edgar/data/38984/000155837018004062/f8-k.htm
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