PHAZAR CORP Stockholders Approve Merger Agreement
MINERAL WELLS, Texas -- July 24, 2013
PHAZAR CORP (NASDAQ: ANTP) (“PHAZAR” or the “Company”) announced that at its
reconvened special meeting of stockholders held today, the Company’s
stockholders approved the adoption of the Agreement and Plan of Merger (the
“Merger Agreement”), dated March 13, 2013, by and among PHAZAR, QAR
Industries, Inc. (“Parent”) and Antenna Products Acquisition Corp., a wholly
owned subsidiary of Parent (“Merger Sub”). With the holders of more than 75%
of the outstanding shares voting, more than 70% of the votes cast were cast in
favor of the Merger Agreement. The Merger Agreement provides for the merger of
Merger Sub with and into PHAZAR, with PHAZAR surviving the merger as a private
company wholly owned by Parent. Upon completion of the merger, in accordance
with the Merger Agreement, PHAZAR stockholders will be entitled to receive
cash consideration of $1.25 for each share of PHAZAR common stock held by them
immediately prior to the merger.
It is expected that the merger will be completed on or before July 31, 2013.
About PHAZAR CORP
PHAZAR CORP designs, manufactures and markets antennas, towers, support
structures, masts and communication accessories worldwide. Product information
is available at www.antennaproducts.com and www.phazar.com.
For additional information, contact Kathy Kindle at 940-325-3301.
This press release contains forward-looking information within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events or performances and underlying assumptions and other statements,
which are other than statements of historical facts. Certain statements
contained herein are forward-looking statements and, accordingly, involve
risks and uncertainties described from time to time in the Company’s filings
with the Securities and Exchange Commission, which could cause actual results
or outcomes to differ materially from those expressed in the forward-looking
statements. The Company’s expectations, beliefs and projections are expressed
in good faith and are believed by the Company to have a reasonable basis,
including without limitation, management’s examination of historical operating
trends, data contained in the Company’s records and other data available from
third parties. There can be no assurance that management’s expectations,
beliefs or projections will result, or be achieved, or accomplished. These
forward-looking statements speak only as of the date made, and the Company
assumes no obligation to update such statements.
Kathy Kindle, 940-325-3301
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