Ore Holdings, Inc. today announced that it has received the requisite vote of the holders of its outstanding common stock needed to approve the previously announced merger of Ore Merger Sub, Inc., an entity controlled by Steel Partners Ltd., with and into Ore, with Ore surviving as a wholly owned subsidiary of Steel.
Ore will file a Certificate of Merger with the Secretary of State of the State of Delaware making the merger effective August 17, 2017. As a result of the merger, each share of Ore's common stock held at the close of business on the date of the merger (other than shares held by Steel Partners, and holders who properly exercise appraisal rights of Section 262 of the General Corporation Law of the State of Delaware) will be automatically converted into a right to receive a cash payment of $0.20 per share. Ore's common stock will no longer be publicly traded upon effectiveness of the merger.