TechDogs-"LICT Corporation Revises Proposed Distribution Date For Spin-Off Of MachTen, Inc."

IT Support

LICT Corporation Revises Proposed Distribution Date For Spin-Off Of MachTen, Inc.

By Business Wire

Business Wire
Overall Rating

RYE, N.Y.--(BUSINESS WIRE)--LICT Corporation (OTC Pink: LICT) has changed the proposed distribution date for its previously announced spin-off of 81% of the common stock of MachTen, Inc. (OTC Pink: MACT) from August 14 to August 31, 2023. MachTen is a newly formed company organized to be a holding company for LICT’s Michigan operations.

LICT’s stockholders of record as of 5:00 p.m. New York City time on July 31, 2023 will continue to be entitled to receive 150 shares of MachTen for every 1 share they own of LICT common stock. It is also now intended that the ex-dividend date for the distribution will be set for September 1, 2023, such that any shares of LICT common stock traded prior to September 1, 2023 will be transferred with the right to receive the distribution of MachTen common stock in the spin-off. We look forward to a promising future for MachTen as it focuses on bringing higher broadband speeds to the communities it serves.

*********************************************************************************

This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.


Contacts

Mario J. Gabelli
Executive Chairman and Interim Chief Executive Officer

Stephen J. Moore
Vice President-Finance

914-921-8821
www.lictcorp.com

First published on Mon, Aug 14, 2023

Liked what you read? That’s only the tip of the tech iceberg!

Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!

Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.

Dive into TechDogs' treasure trove today and Know Your World of technology like never before!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

LICT Corporation Securities Exchange Corporate Transactions

References:

Join The Discussion

  • Dark
  • Light