Howard Jonas, Chairman of Genie, added, “Our Preferred Stock is a very different security than our Class B Common Stock. It provides holders with a healthy dividend yield that is supported by our strong balance sheet and operations, particularly our retail energy provider business. We believe that our Preferred Stock, with a robust trading market on the NYSE, can serve as a potential financing vehicle, and can also be used as currency in exploiting various opportunities. First and foremost, we must be fair to our current stockholders and allow them the opportunity to choose the type of security they wish to hold. Regardless of whether you are a common or preferred holder, you will benefit from the synergies of our two operating segments and the excellent management and scientific teams at Genie.”The exchange offer will commence when the definitive materials (including an Offer to Exchange and Letter of Transmittal) are filed with the Securities and Exchange Commission and made available to Genie’s stockholders and will remain open for at least twenty business days. When the offer begins, Genie will file with the Securities and Exchange Commission and mail the exchange offer documents to stockholders together with the full details of the offer including complete instructions on the exchange process procedure, the transmittal forms and other data.
Genie Energy Ltd. To Renew Exchange Offer For Its Preferred Stock
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.