ROCK HILL, SC / ACCESSWIRE / July 28, 2017 / GlyEco, Inc. ("GlyEco" or the "Company") (OTC PINK: GLYE), a leading specialty chemical company, would like to remind its rights offering shareholders of record that they have the right, but not the obligation, to exercise their non-transferable basic subscription rights for $0.08 per common share, which allows its shareholders of record to acquire additional shares of common stock (the "rights offering").
The rights offering also includes an over-subscription privilege, which will entitle each rights holder that exercises its basic subscription privilege in full the right to purchase additional shares of common stock that remain unsubscribed at the expiration of the rights offering. Both the basic and over subscription privileges are subject to the availability and pro rata allocation of shares among participants.
The subscription period ends at 5:00 pm New York Time on Friday, August 4, 2017. It is important to note that many broker dealers may have different cut off times prior to the official subscription period deadline. As such, GlyEco recommends that all record date rights holders contact their broker or financial advisor about the rights offering to ensure that they can participate by the broker dealer's cut off time for subscriptions.
The exercise price is $0.08. The rights may only be exercised for a maximum of $3,200,000 of subscription proceeds in the aggregate.
The rights offering is being made pursuant to GlyEco's effective registration statement on Form S-1 (Reg. No. 333-215941) on file with the SEC. The offering is being made only by means of a prospectus, copies of which may be obtained from:
Olde Monmouth Stock Transfer Co., Inc.
200 Memorial Parkway
Atlantic Highlands, NJ 07716
Phone: (732) 872-2727
This press release shall not and does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About GlyEco, Inc.
GlyEco is a leading specialty chemical company, leveraging technology and innovation to focus on vertically integrated, eco-friendly manufacturing, customer service and distribution solutions. Our eight facilities, including the recently acquired 14-20 million gallons per year, ASTM E1177 EG-1, glycol re-distillation plant in West Virginia, deliver superior quality glycol products that meet or exceed ASTM quality standards, including a wide spectrum of ready to use antifreezes and additive packages for antifreeze/coolant, gas patch coolants and heat transfer fluid industries, throughout North America. Our team's extensive experience in the chemical field, including direct experience with reclamation of all types of glycols, gives us the ability to process a wide range of feedstock streams, formulate and produce unique products, and has earned us an outstanding reputation in our markets.
For further information, please visit: http://www.glyeco.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue," or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks, and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future, except as required by federal securities laws.
The contents of GlyEco's website referenced herein are not incorporated into this press release.
President and Chief Executive Officer
SOURCE: GlyEco, Inc.