Stanley Furniture Enters Into Rights Agreement To Protect Net Operating Losses
HG HOLDINGS INC (STLY)
US:NASDAQ Investor Relations:
stanleyfurniture.com/investor-relations/at-a-glance
Company Research
Source: GlobeNewswire
HIGH POINT, N.C., Dec. 05, 2016 (GLOBE NEWSWIRE) -- Stanley Furniture Company, Inc. (Nasdaq:STLY) (the “Company”) announced today that its Board of Directors (the “Board”) has adopted a Rights Agreement (the “Rights Agreement”) designed to protect the company’s substantial net operating loss carryforwards (“NOLs”). As of October 1, 2016, the Company had approximately $20.4 million in NOLs, which can be used, in certain circumstances, to offset future taxable income for U.S. federal income tax purposes. The Rights Agreement is intended to preserve and protect the value of the Company’s NOLs by deterring an “ownership change” within the meaning of Section 382 of the Internal Revenue Code that could lead to the loss of the Company’s NOLs and a resulting reduction in the Company’s value. In general, an ownership change would occur if one or more stockholders owning 5% or more of the Company’s common stock were to increase their cumulative ownership of Company common stock by more th
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Sec Filings
- 3/28/24 - Form 10-K
- 3/14/24 - Form S-8
- 3/14/24 - Form 8-A12B/A
- STLY's page on the SEC website