Cemtrex Inc (CETX): Farmingdale, NY, Oct. 23, 2017 (GLOBE NE...

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Monday, 10/23/2017 9:28:53 AM

Monday, October 23, 2017 9:28:53 AM

Farmingdale, NY, Oct. 23, 2017 (GLOBE NEWSWIRE) -- Cemtrex, Inc. (Nasdaq: CETX, CETXP, CETXW) today announced a revised exchange offer, valued substantially higher at $11 per share, to acquire Key Tronic Corporation (KTCC) by offering to exchange each outstanding share of Key Tronic common stock for one series 2 unit consisting of (i) one $10 4% debenture due 2024 and (ii) one third (1/3rd) share of Cemtrex common stock. The purpose of the offer is for Cemtrex to acquire control of, and ultimately the entire interest in Key Tronic.

Exchange Price: 1 share of KTCC common stock for each CETX Series 2 Unit

Every Cemtrex series 2 unit offered for each outstanding share of Key Tronic common stock will consist of the following:

One $10 principal amount of Cemtrex's 4% subordinated debenture due 2024, and
One third (1/3rd) share of Cemtrex common stock
On Friday, October 20th: KTCC closed at $6.91 per share of common stock.
CETX closed at $2.92 per share of common stock

https://fasterstocknews.blogspot.com/2017/10/cetx-cemtrex-announces-revised-exchange.html