March 01, 2015 2:53 AM ET

Capital Markets

Company Overview of Quartet Merger Corporation

Company Overview

As of October 1, 2014, Quartet Merger Corp. was acquired by Pangaea Logistics Solutions Ltd. in a reverse merger transaction. Quartet Merger Corporation does not have significant operations. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. The company was founded in 2013 and is based in New York, New York.

777 Third Avenue

37th Floor

New York, NY 10017

United States

Founded in 2013



Key Executives for Quartet Merger Corporation

Quartet Merger Corporation does not have any Key Executives recorded.

Quartet Merger Corporation Key Developments

Quartet Merger Corporation(NasdaqCM:QTET) dropped from NASDAQ Composite Index

Quartet Merger Corporation will be removed from the NASDAQ Composite Index.

Quartet Merger Corporation, Special/Extraordinary Shareholders Meeting, Sep 29, 2014

Quartet Merger Corporation, Special/Extraordinary Shareholders Meeting, Sep 29, 2014., at 10:00 US Eastern Standard Time. Location: Graubard Miller, 405 Lexington Ave. Agenda: To approve, among other things, the proposed merger between quarter and Pangaea Logistics Solutions Ltd.

Quartet Merger Corp. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

Quartet Merger Corp. reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $114.2 million, an increase of 20.1%, compared with $95.1 million in the first quarter of 2013. Higher revenue growth was predominately due to an increase in shipping days as well as the company's average TCE rate. Income from operations totaled $10.1 million, an increase of 53.7% compared with $6.5 million for the first quarter of 2013. This increase was due to both higher revenues and an increase in operating profit margins from 6.9% in 2013 to 8.8% in 2014. Net income attributable to Pangaea Logistics Solutions for the quarter was $6.6 million, an increase of 43.5% compared with $4.6 million in the first quarter of 2013.

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