BK Technologies completes holding company reorganization
BK Technologies, Inc. (NYSE American: BKTI) recently announced the completion of its previously announced holding company reorganization. BK Technologies Corporation is now the parent holding company of BK Technologies, Inc. (“Old BK Technologies”) and its subsidiaries. The reorganization is intended to create a more efficient corporate structure and increase operational flexibility. No material operational or financial impacts are expected. In the reorganization, stockholders of Old BK Technologies automatically became stockholders of BK Technologies Corporation, on a one-for-one basis, with the same number of shares and same ownership percentage of Old BK Technologies common stock that they held immediately prior to the holding company reorganization. Shares of BK Technologies Corporation common stock will trade on the NYSE American under the same ticker symbol previously used by Old BK Technologies, “BKTI.” A new CUSIP number has been assigned to the BK Technologies Corporation common stock: 05587G 104.
The holding company reorganization is intended to be a tax-free transaction for U.S. federal income tax purposes for stockholders of Old BK Technologies.