Accordingly, the Company’s Board has approved a Plan of Complete Liquidation and Dissolution of the Company (the “Plan of Liquidation” or the “Plan”), which Plan must be approved by the Company’s stockholders. The Company intends to hold a special meeting of stockholders to seek approval of the Plan and expects to file preliminary proxy materials with the Securities and Exchange Commission in the near future. The Plan follows the Company’s previous announcement to commence asset sales. The Company’s credit facility originally included a restriction prohibiting the Company from contemplating a plan of liquidation, which has now been amended to delete this restriction.
The Plan of Liquidation outlines …
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