Cooper Holding Completes Name Change, Reverse Split and Acquisition
PR Newswire “Press Releases US – English “
COTTAGE GROVE, Tenn. , Nov. 10, 2010 /PRNewswire-FirstCall/ — Cooper Holding Corp (Pink Sheets: SHARD), a publicly traded company engaged in the wholesale and retail sale of a diverse line of outdoor products, announces that on Thursday, September 28 , 2010 the name change from Sharp Holding Corp to Cooper Holding Corp and the 25:1 reverse split became effective. In addition, on Friday November 5, 2010 the acquisition of privately held Cooper Hunting Industries, Inc. was completed.
September 28, 2010 the name change from Sharp Holding Corp to Cooper Holding Corp and the 25:1 reverse split became effective with FINRA. The reverse split reduced the outstanding common shares to 8,484,285 with 280,000,000 authorized, making the acquisition of Cooper Hunting Industries, Inc. possible. On Friday, November 5, 2010 Cooper Holding Corp. acquired privately held Cooper Hunting Industries, Inc. in a one for one share exchange by issuing 77,735,000 shares of common stock. The total number of outstanding shares after the acquisition is 86,219,285.
As a result of the reverse split, the shareholders of record of Sharp Holding Corp. are to receive a dividend in the form of warrants. The warrant will give the shareholder the right to purchase an additional 25 shares for each new Cooper Holding share held after the reverse split. The strike price for the newly issued warrants is $0.10 with an expiration period of warrant 7 years. Cooper Holding Corp. is currently in the process of registering the warrants and will issue them after registration is complete.
“The warrant will provide the existing Sharp shareholders with an opportunity to retain their percentage of ownership prior to the reverse as well as bring additional capital to the company. With the administrative task behind us, management looks forward to executing our business plan and continuing on our growth.” Dan Cooper /President