INTERNATIONAL TEXTILE GROUP INC 4
4 · INTERNATIONAL TEXTILE GROUP INC · Filed Oct 26, 2016
Insider Transaction Report
Form 4
Garren Robert E
VP Corporate Communications,HR
Transactions
- Disposition to Issuer
Common Stock
2016-10-24$0.55/sh−14,245$7,835→ 0 total
Footnotes (1)
- [F1]Disposed of pursuant to Agreement and Plan of Merger (the "Agreement"), dated as of October 24, 2016, among International Textile Group, Inc. (the "Company"), Project Ivory Acquisition LLC ("Parent"), and Project Ivory Acquisition Corporation ("Merger Sub"), pursuant to which Merger Sub merged with and into the Company, with the Company continuing as a wholly-owned subsidiary of Parent (the "Merger"). Pursuant to the Agreement, at the effective time of the Merger, each share of the Company's common stock issued and outstanding immediately prior thereto (other than shares held in treasury by the Company or owned by the Company's subsidiaries, or by Parent, Merger Sub or any of their respective affiliates, which shares were cancelled without payment of any consideration) was cancelled and converted into the right to receive $0.55 in cash, without interest. The disposition was exempt from Section 16(b) of the Securities Exchange Act of 1934 pursuant to Rule 16b-3 promulgated thereunder.