DMC Global Comments on Steel Connect’s Unsolicited Proposal
BROOMFIELD, Colo., June 14, 2024 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) (“DMC” or the “Company”) today commented on Steel Connect’s recent unsolicited proposal (the “Proposal”).
DMC’s board of directors (the “Board”) previously announced a review of strategic alternatives. The Board will consider the Proposal as part of its ongoing deliberations, in consultation with its legal and financial advisors and in accordance with its fiduciary duties. In the meantime, stockholders need not take any action.
There can be no assurance that the Board’s review of strategic alternatives and options will result in any transaction or other alternative, nor any assurance as to its outcome or timing. There is no timetable for completion of this process and DMC does not intend to comment further unless and until it determines that further disclosure is necessary or appropriate.
BofA Securities is acting as financial advisor to DMC. Womble Bond Dickinson (US) LLP and Richards, Layton & Finger, P.A. are acting as DMC’s legal advisors, Morrow Sodali is acting as its strategic stockholder advisor, and Gagnier Communications LLC is its strategic communications advisor.
About DMC Global
DMC Global is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions. DMC’s businesses have established leadership positions in their respective markets and consist of: Arcadia, a leading supplier of architectural building products; DynaEnergetics, which serves the global energy industry; and NobelClad, which addresses the global industrial infrastructure and transportation sectors. Based in Broomfield, Colorado, DMC trades on Nasdaq under the symbol “BOOM.” For more information, visit:
Safe Harbor Language
This news release contains certain forward-looking statements regarding the Company. All of these statements are based on management’s expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and other factors outside of the Company’s control that may cause its business, industry, strategy, financing activities or actual results to differ materially. More information on potential factors that could affect the Company and its financial results is available in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections within the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents that the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to release public revisions to any forward-looking statement, including, without limitation, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
CONTACT:
Investors:
Geoff High
Vice President of Investor Relations
303-604-3924
Media:
Riyaz Lalani or Dan Gagnier
Gagnier Communications
416-305-1459
