US Ecology Announces Intent to Voluntarily Delist its Warrants from the Nasdaq Global Select Market and Move Trading of the W...
November 20 2019 - 7:00AM
On November 1, 2019, US Ecology, Inc. (the “Company”) completed a
merger transaction (the “Merger”) in which the Company acquired NRC
Group Holdings Corp. (“NRCG”). In the Merger, warrants to purchase
shares of NRCG common stock, par value $0.0001, were converted into
warrants to purchase shares of the Company’s common stock, par
value $0.01 (the “ECOL Warrants”). In connection with the closing
of the Merger, the ECOL Warrants were listed on the Nasdaq Global
Select Market (“Nasdaq GS”) under the symbol “ECOLW.”
On November 19, 2019, the Company notified Nasdaq that it
intends to delist the ECOL Warrants from Nasdaq GS, effective prior
to the open of trading on December 9, 2019, because the ECOL
Warrants do not meet the minimum 400 round lot holder requirement
for listing as set forth in Nasdaq Listing Rule 5515(a)(4).
The Company intends to pursue a listing of the ECOL Warrants on
the NYSE American exchange where it believes the ECOL Warrants
would satisfy all of the exchange’s initial listing criteria,
including that exchange’s round lot holder requirements, on or
prior to December 9, 2019. There can be no assurance that the
Company will list the ECOL Warrants on the NYSE American exchange
in the anticipated timeframe or at all. The Company anticipates
that, if it is unable to list the ECOL Warrants on the NYSE
American exchange prior to the delisting of ECOL Warrants from
Nasdaq GS, the ECOL Warrants will be eligible for trading on the
over-the-counter markets operated by OTC Markets Group.
The anticipated voluntary delisting of the ECOL Warrants from
Nasdaq GS does not have, and is not expected to have, an impact on
the listing of the Company’s common stock, which will continue to
trade on Nasdaq GS under the symbol “ECOL.”
ABOUT US ECOLOGY, INC.
US Ecology, Inc. is a leading provider of environmental services
to commercial and government entities. The company addresses the
complex waste management and response needs of its customers
offering treatment, disposal and recycling of hazardous,
non-hazardous and radioactive waste, leading emergency response and
standby services, and a wide range of complementary field and
industrial services. US Ecology’s focus on safety, environmental
compliance, and best—in-class customer service enables us to
effectively meet the needs of US Ecology’s customers and to build
long lasting relationships. US Ecology has been protecting the
environment since 1952. For more information, visit
www.usecology.com.
FORWARD LOOKING STATEMENTS Forward-looking
statements are only predictions and are not guarantees of
performance. These statements are based on management’s beliefs and
assumptions, which in turn are based on currently available
information. Important assumptions include, among others, those
regarding demand for Company services, expansion of service
offerings geographically or through new or expanded service lines,
the timing and cost of planned capital expenditures, competitive
conditions and general economic conditions. These assumptions could
prove inaccurate. Forward-looking statements also involve known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those contained in any forward-looking
statement. Many of these factors are beyond our ability to control
or predict. Such factors include an accident at one of our
facilities, incidents resulting from the handling of dangerous
substances, the loss or failure to renew significant contracts,
competition in our markets, adverse economic conditions, our
compliance with applicable laws and regulations, the realization of
anticipated benefits from acquired operations, our ability to
perform under required contracts, limitations on our available cash
flow as a result of our indebtedness, liabilities arising from our
participation in multi-employer pension plans, cyber security
threats, unanticipated changes in tax rules and regulations, loss
of key personnel, a deterioration in our labor relations or labor
disputes, our ability to pay dividends or repurchase stock,
anti-takeover regulations, stock market volatility, our access to
insurance, surety bonds and other financial assurances, our
litigation risk not covered by insurance, the replacement of
non-recurring event projects, our ability to permit and contract
for timely construction of new or expanded disposal space, renewals
of our operating permits or lease agreements with regulatory
bodies, our ability or the timing of reconstructing and receiving
regulatory approvals for the reopening of the Grand View, Idaho
treatment facility, the timing or amount of insurance recoveries
associated with the reconstruction and business interruption losses
for the Grand View, Idaho treatment facility, our access to
cost-effective transportation services, lawsuits, our
implementation of new technologies, fluctuations in foreign
currency markets and foreign affairs.
Except as required by applicable law, including the securities
laws of the United States and the rules and regulations of the
Securities and Exchange Commission (the “SEC”), we are under no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. You should not place undue reliance on our
forward-looking statements. Although we believe that the
expectations reflected in forward-looking statements are
reasonable, we cannot guarantee future results or performance.
Before you invest in our common stock, you should be aware that the
occurrence of the events described in the "Risk Factors" sections
of our annual and quarterly reports could harm our business,
prospects, operating results, and financial condition.
Contact: Alison Ziegler, Darrow Associates (201)
220-2678aziegler@darrowir.com www.usecology.com
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