ARMSTRONG FLOORING, INC. : Completion of Acquisition or Disposal of Assets (Form 8-K)
Item 2.01 Completion of Acquisition or Disposal of Assets.
As stated earlier, on
company (the “Company”), and its wholly owned subsidiaries
As previously disclosed, following the evaluation of all qualified offers for the Company’s assets, the Company has entered into: (a) a binding asset purchase agreement (the “North America Purchase Agreement North”), dated
and work alongside its secured creditors to continue its operations in
Disclaimer Regarding Trading in the Company’s Securities.
As further described in 2.01 above, the Company has sold substantially all of its North American and Asian assets and it has agreed to sell substantially all of its Australian assets pursuant to the Australian Purchase Agreement. Following the completion of these sales, the Company should be liquidated. Equity holders of the Company will likely not be entitled to any recoveries on their investment as a result of the Chapter 11 events, and recoveries for other stakeholders cannot be determined at this time. The Company cautions that trading in the Company’s securities is highly speculative and involves substantial risks. The trading prices of the Company’s securities may bear little or no relation to the actual value to be realized, if any, by holders of the Company’s securities in Chapter 11 Cases. Accordingly, the Company recommends an extreme caution with regard to current and future investments in its securities.
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