Jamba, Inc. Announces Termination of Stockholder Rights Agreement
April 02 2015 - 5:01PM
Business Wire
Jamba, Inc. (NASDAQ:JMBA) ("Jamba" or the "Company") today
announced the Board of Directors of the Company approved, and the
Company entered into, an amendment to the Company’s stockholders
rights agreement that accelerates the expiration date of the
preferred stock purchase rights granted thereunder from 5:00 p.m.,
New York time, on October 8, 2018, to 5:00 p.m., New York time, on
April 2, 2015, effectively terminating the rights agreement as of
that date.
The Board of Directors made its decision to accelerate the
expiration date of the rights agreement after receiving feedback
from investors and after considering its current corporate
governance practices. However, the Board of Directors reserved the
right to adopt a new shareholder rights agreement in the future,
consistent with its fiduciary responsibilities.
Stockholders are not required to take any action as a result of
the termination of the rights agreement. Jamba will be taking
routine actions to terminate, deregister and delist the related
preferred stock purchase rights under applicable law, including the
Securities Exchange Act of 1934. These actions are administrative
in nature and will have no effect on Jamba’s common stock.
About Jamba, Inc.
Jamba, Inc. owns and franchises Jamba Juice® stores through its
wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company
is a leading restaurant retailer of better-for-you, specialty
beverage and food offerings, which include great tasting, whole
fruit smoothies, fresh-squeezed juices and juice blends, hot teas
and a variety of food items including, Energy Bowls™, hot oatmeal,
breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods and
snacks. As of December 30, 2014, there were 868 store locations
globally. There were 263 Company-owned and operated stores and 543
franchise-operated stores in the United States, and 62
franchise-operated international stores. Jamba Juice Company
expands the Jamba® brand by direct selling of consumer packaged
goods (“CPG”) and licensing its trademarks. CPG products for
at-home enjoyment are available online, through select retailers
across the nation and in Jamba® outlets in the United States. Fans
of Jamba Juice® can find out more about Jamba Juice's locations as
well as specific offerings and promotions by visiting the Jamba
Juice website at www.JambaJuice.com or by contacting Jamba’s Guest
Services team at 1-866-4R-FRUIT (473-7848).
ICRDara Dierks, 203-682-8200investors@jambajuice.comorJamba
JuiceMike Fuccillo, 510-596-0100, X-7Dir. Corporate
Communicationsmfuccillo@jambajuice.com
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