Industrial Services of America, Inc. Announces Closing of Sale of Assets
INDUSTRIAL SERVICES of AMERICAN (IDSA)
US:NASDAQ Investor Relations:
isa-inc.com/investor-relations
Company Research
Source: Business Wire
LOUISVILLE, Ky.--(BUSINESS WIRE)--Industrial Services of America, Inc. (NASDAQ: IDSA) (the “Company” or “ISA”), today announced that it has closed on the sale transaction (the “Transaction”) contemplated by its previously announced definitive asset purchase agreement (the “Purchase Agreement”) with River Metals Recycling LLC (“River Metals”), a subsidiary of The David J. Joseph Company, pursuant to which River Metals has acquired substantially all of the assets of the Company and its wholly-owned subsidiaries and assumed certain liabilities of the Company and its wholly-owned subsidiaries.As previously announced, following completion of the transaction, ISA intends to dissolve and to distribute a portion of the sale proceeds to its shareholders. The initial distribution amount, anticipated to occur within the next thirty days, will be determined by ISA’s board of directors and will be subject to the satisfaction of the liabilities of the Company and certain assumptions. Additional
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