CHARLOTTE, N.C., June 07, 2024 (GLOBE NEWSWIRE) -- Snap One Holdings Corp. (the "Company" or "Snap One") (Nasdaq: SNPO) intends to suspend trading of its common stock, par value $0.01 per share (the "Common Stock"), from The Nasdaq Stock Market ("Nasdaq") in connection with the closing of the acquisition of the Company by Resideo Technologies, Inc., a Delaware corporation ("Resideo"), which will be effected by the merger (the "Merger") of a wholly-owned subsidiary of Resideo with and into the Company, with the Company surviving the Merger and becoming a wholly-subsidiary of Resideo. The Merger is expected to close on June 14, 2024, subject to the satisfaction of customary closing conditions.
The Company intends to file a Form 25 on or about June 14, 2024 with the Securities and Exchange Commission (the "SEC"), and the Company expects that trading in the Common Stock will be suspended after the close of market on June 14, 2024. The Company also intends to file a Form 15 with the SEC as soon as practicable following the effectiveness of the Form 25 to indefinitely suspend its reporting obligations under the Securities Exchange Act of 1934, as amended.
About Snap One
As a leading distributor of smart-living technology, Snap One empowers its vast network of professional integrators to deliver entertainment, connectivity, control, and security solutions to residential and commercial end users worldwide. Snap One distributes an expansive portfolio of proprietary and third-party products through its intuitive online portal and local branch network, blending the benefits of e-commerce with the convenience of same-day pickup. In addition to products, the Company provides software, award-winning support, and digital workflow tools to help its integrator partners build thriving and profitable businesses. Additional information about Snap One can be found at snapone.com.
Cautionary Statements Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, which reflect our current views with respect to, among other things, the anticipated closing of the Merger. You can identify these forward-looking statements by the use of words such as "outlook," "indicator," "believes," "project," "forecast," "targets," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "scheduled," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to the risks related to our business and industry, risks related to our products, risks related to our manufacturing and supply chain, risks related to our distribution channels, risks related to laws and regulations, risks related to cybersecurity and privacy, risks related to intellectual property, risks related to our international operations, risks related to our indebtedness, risks related to interest rate and exchange rate volatility, risks related to our financial statements, risks related to our common stock, and other risks as described under the section entitled "Risk Factors" in our latest Annual Report on Form 10-K filed with the SEC, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our other periodic filings. The forward-looking statements speak only as of the date of this press release, and, except as required by law, we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
Media Contacts
Danielle Karr
Director, Public Relations & Events
Danielle.Karr@snapone.com
