ENFIELD, Conn., Feb. 07, 2020 (GLOBE NEWSWIRE) -- STR Holdings, Inc. (STRI), a global provider of encapsulants and packaging products, today announced that it has filed a Form 15 with the Securities and Exchange Commission (the “SEC”) today to voluntarily deregister its common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). After the filing of the Form 15, the Company is no longer required to file Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The obligation to file other reports, if any, under the Exchange Act will continue until the deregistration is effective 90 days from today.
The Board of Directors of the Company authorized this action as part of a broader effort to reduce costs and provide the Company with increased flexibility as it continues to review and assess the Company’s business and its strategic plans.
Following the filing of the Form 15, the Company’s common stock will be quoted on the OTC Pink, a centralized electronic quotation service operated by the OTC Markets for over-the-counter securities. However, the Company can give no assurance that trading in its stock will continue in the future on the OTC Pink or any other securities exchange or quotation medium.
Following the Company deregistering its common stock and suspending its reporting obligations under the Exchange Act, stockholders may consult their financial advisors, the Company, or the Company’s transfer agent, Broadridge Corporate Issuer Solutions, regarding any questions related to their holding of common stock in the Company.
About STR Holdings, Inc.
STR Holdings, Inc. is a global provider of encapsulants and packaging products. Further information about STR Holdings, Inc. can be obtained via the Company’s website at www.strsolar.com.
STR Holdings, Inc.
Attn: Investor Relations
10 Water Street
Enfield CT 06082
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to inherent risks and uncertainties. Forward-looking statements are not guarantees of future performance or financial or operating results. These forward-looking statements present our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business and are based on assumptions that we have made in light of our industrial experience and perceptions of historical trends, current conditions, expected future developments and other factors management believes are appropriate under the circumstances, including, without limitation, our ability to realize anticipated cost savings from deregistration, the ability to timely and effectively implement our deregistration plan, adverse effects on our share price and liquidity following our deregistration, as well as more general business and financial risks such as those risk factors described from time to time in our reports filed with the SEC. You are urged to carefully review and consider the disclosure found in our filings, which are available on http://www.sec.gov or http://www.strsolar.com. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, actual results may vary materially from those projected in these forward-looking statements. We undertake no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.