Fresh Tracks Therapeutics Reveals Cash Distribution Plan

Author: Olivia Taylor Updated: 02-25-2025 04:16 PM

An Update on Fresh Tracks Therapeutics' Dissolution Plans

Fresh Tracks Therapeutics, Inc. (OTC Pink: FRTX) has made significant announcements regarding its planned dissolution and cash distribution process for its stockholders. The company is set to file a Certificate of Dissolution, marking an important step in winding down operations.

Initial Cash Distribution Overview

The dissolution is effectively scheduled, and an initial distribution of approximately $0.96 per share is authorized for stockholders as of February 28, 2025. This move comes after the Court of Chancery appointed a custodian to oversee the dissolution process.

Details of Current Operations

Fresh Tracks is in the process of effectively winding down its business, ensuring all financial obligations are resolved. The company has approximately 6 million shares and around 0.6 million eligible warrants outstanding. With a total cash pool for initial distributions expected to reach about $6.3 million, stockholders can anticipate their shares being valued adequately during this transition.

Future Provisions for Stockholders

As operations cease, the company plans to establish a reserve for possible expenses arising throughout the winding down process. The entire dissolution period is likely to extend over the next decade, allowing for proper management of all claims and financial obligations. After initial distributions, any remaining funds may also lead to additional cash distributions.

Trading Termination on OTC Pink Market

The common stock of Fresh Tracks will conclude trading on the OTC Pink Market as of the end of business on February 28, 2025. This date is vital as it determines eligibility for stockholders and warrant holders to receive their respective distribution shares.

Role of Equiniti Trust Company

Equiniti Trust Company, LLC has been designated as the distribution agent for Fresh Tracks. Stockholders with shares will receive checks corresponding to their cash distribution directly. Those through brokers will acquire distributions via their brokerage accounts.

Contact Information for Inquiries

For any questions regarding shares or distributions, stockholders can reach out to Equiniti at the following address:

Equiniti Trust Company, LLC
48 Wall Street, 22nd Floor
New York, NY 10005
Attn: Shareowner Services
Tel: (800) 937-5449

Frequently Asked Questions

What is the primary reason for the dissolution of Fresh Tracks?

Fresh Tracks is unwinding its operations and has decided to dissolve as part of its business plan, ensuring an orderly distribution of remaining assets.

What amount will stockholders receive in the initial distribution?

The company has announced an initial distribution of approximately $0.96 per share for stockholders as part of the dissolution plan.

Who will manage the distribution of cash to stockholders?

Equiniti Trust Company has been appointed as the distribution agent to manage the cash distribution process for stockholders and warrant holders.

When will trading cease for Fresh Tracks stock?

Trading of Fresh Tracks' common stock is set to end on February 28, 2025, which is also the record date for determining eligible stockholders for the cash distribution.

How long will the dissolution process take?

The entire dissolution and winding down process is expected to span up to ten years, allowing for the proper settlement of liabilities and other obligations.

About The Author

Olivia Taylor here, a 26-year-old writer and financial advisor. After earning a degree in finance, I worked in the sector for years. I've always loved numbers and had a talent for simplifying difficult financial ideas so that anyone could understand. I wrote my first book because of this passion; it helps readers take charge of their financial futures by fusing real-life stories with useful financial advice.

Whether they are just beginning their careers, preparing for significant life events, or seeking to invest wisely, my goal with my writing is to enable people to make educated financial decisions. The foundation of my work is the conviction that security and freedom of the individual are largely determined by financial literacy. To further financial education, I run workshops and frequently write for financial blogs in addition to my books.

I like to travel, experience other cultures, and find inspiration in daily life when I'm not writing or examining market trends. My passion is utilizing sound financial practices to help people reach their financial objectives and lead the best lives possible.

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