DMC Global Comments on Steel Connect’s Unsolicited Proposal
14 Juin 2024 - 3:00PM
DMC Global Inc. (Nasdaq: BOOM) (“DMC” or the “Company”) today
commented on Steel Connect’s recent unsolicited proposal (the
“Proposal”).
DMC’s board of directors (the “Board”)
previously announced a review of strategic alternatives. The Board
will consider the Proposal as part of its ongoing deliberations, in
consultation with its legal and financial advisors and in
accordance with its fiduciary duties. In the meantime, stockholders
need not take any action.
There can be no assurance that the Board’s
review of strategic alternatives and options will result in any
transaction or other alternative, nor any assurance as to its
outcome or timing. There is no timetable for completion of this
process and DMC does not intend to comment further unless and until
it determines that further disclosure is necessary or
appropriate.
BofA Securities is acting as financial advisor
to DMC. Womble Bond Dickinson (US) LLP and Richards, Layton &
Finger, P.A. are acting as DMC’s legal advisors, Morrow Sodali is
acting as its strategic stockholder advisor, and Gagnier
Communications LLC is its strategic communications advisor.
About DMC GlobalDMC Global is
an owner and operator of innovative, asset-light manufacturing
businesses that provide unique, highly engineered products and
differentiated solutions. DMC’s businesses have established
leadership positions in their respective markets and consist of:
Arcadia, a leading supplier of architectural building products;
DynaEnergetics, which serves the global energy industry; and
NobelClad, which addresses the global industrial infrastructure and
transportation sectors. Based in Broomfield, Colorado, DMC trades
on Nasdaq under the symbol “BOOM.” For more information, visit:
HTTP://WWW.DMCGLOBAL.COM.
Safe Harbor LanguageThis news
release contains certain forward-looking statements regarding the
Company. All of these statements are based on management’s
expectations as well as estimates and assumptions prepared by
management that, although they believe to be reasonable, are
inherently uncertain. These statements involve risks and
uncertainties, including, but not limited to, economic,
competitive, governmental and other factors outside of the
Company’s control that may cause its business, industry, strategy,
financing activities or actual results to differ materially. More
information on potential factors that could affect the Company and
its financial results is available in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” sections within the Company’s Annual Report
on Form 10-K for the year ended December 31, 2023, and in other
documents that the Company has filed with, or furnished to, the
U.S. Securities and Exchange Commission. The Company does not
undertake any obligation to release public revisions to any
forward-looking statement, including, without limitation, to
reflect events or circumstances after the date of this news
release, or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws.
CONTACT:Investors:Geoff
HighVice President of Investor Relations303-604-3924
Media:Riyaz Lalani or Dan GagnierGagnier
Communications416-305-1459DMCGLOBAL@GAGNIERFC.COM
DMC Global (NASDAQ:BOOM)
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