Friday, 22 January 2016 08:00 AM
PHOENIX, AZ / ACCESSWIRE / January 22, 2016 / A leader in sustainable glycol technologies, GlyEco, Inc. ("GlyEco" or the "Company") ("GLYE"), announced today that the Company has extended the expiration date of its rights offering to 5:00 p.m., Eastern Time, on February 26, 2016.
Under the terms of the rights offering, the Company is distributing one subscription right for every one share of common stock owned as of 5:00 p.m., Eastern Time, on October 31, 2015, the record date. Each subscription right entitles shareholders to purchase 0.7 shares of the Company's common stock at a subscription price of $0.08 per share, which is referred to as the "basic subscription privilege." If a shareholder fully exercises their basic subscription privilege and other shareholders do not fully exercise their basic subscription privileges, shareholders may also exercise an over-subscription privilege to purchase a portion of the unsubscribed shares at the same subscription price of $0.08 per share, subject to certain limitations.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, and there will be no sale of any securities in any state in which such an offer, solicitation, or purchase would be unlawful prior to the registration or qualification of such securities under the securities laws of any such state. The offer of the shares of common stock issuable upon exercise of the rights is made only by means of the prospectus dated January 21, 2016, forming a part of the Company's registration statement filed with and declared effective by the SEC, and related documents. A copy of the prospectus may be obtained, free of charge, on the SEC website at www.sec.gov. Before you invest, you should carefully read the prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the rights offering.
About GlyEco, Inc.
GlyEco collects and recycles waste glycol streams into reusable glycol products that are sold to third party customers in the automotive and industrial end-markets in the United States. Our proprietary and patented technology allows us to recycle all five major types of waste glycol into high-quality products usable in any glycol application. We are dedicated to being the standard in the glycol industry by providing the highest-quality products, services, and technology possible to our customers.
For further information, please visit: http://www.glyeco.com
To partner or to start a project with us, please visit: Start a Project with GlyEco!
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the words "believe," "anticipate," "expect," "intend," "estimate," and similar expressions. All statements in this document regarding the future outlook related to GlyEco, Inc. are forward-looking statements. Such statements are based on the current expectations, beliefs, estimates and projections of management and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including the risk that the future data will not be as favorable as the initial results. Additional uncertainties and risks are described in our most recent Annual Report on Form 10-K. For a more detailed discussion of factors that affect GlyEco's operations, please refer our filings with the Securities and Exchange Commission ("SEC"). Copies of these filings are available through the SEC website at http://www.sec.gov. All forward-looking statements are based upon information available to us on the date hereof, and GlyEco undertakes no obligation to update this forward-looking information.
Contact:
GlyEco, Inc.
Dwight Mamanteo
Non-Executive Chairman
[email protected]
866-960-1539 ext. 703
SOURCE: GlyEco, Inc.