Evercel Inc. (EVRC) 0.9700 $EVRC
Evercel Increases Its Ownership in Printronix
GlobeNewswire - Thu Aug 21, 3:40PM CDT
On August 21, 2014, Evercel (OTC:EVRC) acquired the entity holding 19.9% of the shares of Printronix, representing all of the shares that it did not already own, for a purchase price of $4.5m financed through Printronix's lenders. Evercel now beneficially owns all of Printronix, less options and shares that may be sold or issued in the future to management. The shares in the entity purchased today are subject to a carried interest held by certain members of management and others who originally brought the investment opportunity to Evercel. After Evercel recovers 100% of its investment in Printronix, that carried interest entitles the holders to 20% of further distributions with respect to Printronix.
Evercel Expects to Release Consolidated Financials in October
GlobeNewswire - Mon Jul 28, 4:12PM CDT
Evercel, Inc. (OTC:EVRC) currently expects to release its consolidated financial statements for the year ending March 31, 2014 by end of October 2014. Selection of a new, global auditing firm and first-time consolidation of financial information from Printronix, New England Crab Co and Sontek Medical have contributed to the delay of the release.
Evercel Sells Operations of New England Crab Company Inc.
GlobeNewswire - Fri Feb 28, 3:00PM CST
Evercel, Inc. (OTC:EVRC) sold certain assets and the operations of its subsidiary New England Crab Company Inc. to an affiliate of Foley Fish, one of New England's premier fish wholesalers. The business will operate under the name New England Crab Company and with its current management team. Foley Fish brings four generations of expertise, selling seafood to restaurants and specialty retail stores across the country. Evercel will participate in profits above a certain level generated and we expect to realize book value over the next 12 months.
Evercel Increases Its Ownership in Printronix
GlobeNewswire - Thu Aug 21, 3:40PM CDT
On August 21, 2014, Evercel (OTC:EVRC) acquired the entity holding 19.9% of the shares of Printronix, representing all of the shares that it did not already own, for a purchase price of $4.5m financed through Printronix's lenders. Evercel now beneficially owns all of Printronix, less options and shares that may be sold or issued in the future to management. The shares in the entity purchased today are subject to a carried interest held by certain members of management and others who originally brought the investment opportunity to Evercel. After Evercel recovers 100% of its investment in Printronix, that carried interest entitles the holders to 20% of further distributions with respect to Printronix.
Evercel Expects to Release Consolidated Financials in October
GlobeNewswire - Mon Jul 28, 4:12PM CDT
Evercel, Inc. (OTC:EVRC) currently expects to release its consolidated financial statements for the year ending March 31, 2014 by end of October 2014. Selection of a new, global auditing firm and first-time consolidation of financial information from Printronix, New England Crab Co and Sontek Medical have contributed to the delay of the release.
Evercel Sells Operations of New England Crab Company Inc.
GlobeNewswire - Fri Feb 28, 3:00PM CST
Evercel, Inc. (OTC:EVRC) sold certain assets and the operations of its subsidiary New England Crab Company Inc. to an affiliate of Foley Fish, one of New England's premier fish wholesalers. The business will operate under the name New England Crab Company and with its current management team. Foley Fish brings four generations of expertise, selling seafood to restaurants and specialty retail stores across the country. Evercel will participate in profits above a certain level generated and we expect to realize book value over the next 12 months.
