MBF Healthcare Acquisition Corp. Announces Liquidation and Dissolution
17 Avril 2009 - 10:32PM
Business Wire
MBF Healthcare Acquisition Corp. (NYSE Amex:MBH) (the "Company")
announced today that its Board of Directors have voted to approve
the Company's proposed plan of liquidation. As of the close of
business on April 22, 2009, the Company�s share transfer books will
close and the NYSE Amex will suspend trading.
The Company is a �blank check� company formed to acquire,
through a merger, capital stock exchange, asset acquisition,
reorganization or similar business combination, one or more
businesses, which it believes has significant growth potential.
Because the Company will not consummate a business combination by
April 23, 2009, the time frame required by its charter and the
terms of its initial public offering, the Company is required to
liquidate and dissolve. Promptly after that date, the Company will
begin the process of liquidating and dissolving itself in
accordance with its charter and applicable Delaware law.
As a result, the Company expects to liquidate the amounts held
in its trust account, which consist of proceeds from the Company�s
initial public offering, together with the deferred portion of the
underwriter�s discount and commission and interest (net of
applicable taxes). Payable upon presentation, liquidating
distributions will be made to holders of shares of common stock
issued in the Company�s initial public offering. Stockholders whose
stock is held in �street name� through a broker will automatically
receive payment through the Depository Trust Company. The
liquidating distribution is expected to be approximately $8.24 per
share. No payments will be made with respect to any of the
Company�s outstanding warrants or shares of common stock that were
acquired prior to the Company�s initial public offering. In
addition, stockholders will receive their proportionate share of
any federal income tax refund received by the Company for the
deductibility of previously disallowed expenses to be deducted in
the Company�s 2009 federal income tax return. This refund is
expected to be received in 2010 and will then be distributed to the
stockholders.
The Company will file a Certificate of Termination of
Registration on Form 15 with the Securities and Exchange Commission
for the purpose of deregistering its securities under the
Securities and Exchange Act of 1934, as amended. As a result, the
Company will no longer be a public reporting company and its
securities will cease trading on the NYSE Amex.
About MBF Healthcare Acquisition Corp.
MBH is a special purpose acquisition company formed for the
purpose of acquiring, through a merger, capital stock exchange,
stock purchase, asset acquisition or other similar business
combination, one or more operating businesses in the healthcare
industry.
Mbf Healthcare Acquisition Corp. (AMEX:MBH)
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