Huttig Building Products, Inc. Announces Amendment to Existing Rights Plan to Protect Net Operating Loss Carryforwards
Huttig Building Products, Inc. (HBP)
NASDAQ:AMEX Investor Relations:
investor.huttig.com/investor-relations
Company Research
Source: GlobeNewswire
ST. LOUIS, May 06, 2019 (GLOBE NEWSWIRE) -- Huttig Building Products, Inc. (“Huttig” or the “Company”) (NASDAQ: HBP), a leading domestic distributor of millwork, building materials and wood products, announced today that its Board of Directors has approved an amendment to the Company’s Rights Agreement (the “Rights Plan”). The Rights Plan is designed to protect the Company’s existing net operating loss carryforwards (“NOLs”) and preserve the Company’s ability to use its NOLs to offset future taxable income. The amendment, among other things, (i) changes the initial Purchase Price (as defined in the Rights Plan) from $13.86 to $13.39; (ii) extends the Rights Plan so that it will continue in effect until May 18, 2022, unless it is terminated or redeemed earlier by the Board, or the Board determines that no applicable tax benefits may be carried forward; and (iii) increases the period pursuant to which the Company’s Board of Directors has to consider an Exemption Request (as defined in
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