The steps announced today come as a result of Rentech's successful execution of its strategy and the Board's ongoing evaluation of the best steps to utilize its capital and create shareholder value. Consistent with that plan, it now expects to make a decision on the best alternative for its technology portfolio in the first quarter of 2013, earlier than its previous timeline of the first half of 2013. Among the alternatives being considered to maximize the value of that business are potential partnerships for the commercialization of its technologies, which the Company would enter into only if such partnerships would be financially attractive and provide near-term cash.Pro forma for payment of the special cash dividend, redemption of the convertible notes, and the third quarter cash distribution received from Rentech Nitrogen Partners on November 14 th, Rentech, Inc.’s unconsolidated cash balance as of September 30, 2012 would have been approximately $103 million. A reconciliation of Rentech, Inc.’s pro forma unconsolidated cash balance to its actual unconsolidated cash balance as of September 30, 2012 is included below in this press release.
Rentech Declares Special Cash Dividend Of $0.19 Per Share Payable In 2012 And Announces Early Redemption Of Convertible Notes
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