Arcadia Capital Advisors, LLC Sees Positive Outcomes in Recent Activist Efforts to Benefit Shareholders of Bolt Technology Co...

Twice in recent days, Arcadia Capital Advisors, LLC ("Arcadia") has seen its activist efforts pay off. First, with Bolt Technology Corp. (Nasdaq:BOLT) ("BOLT" or "Bolt"), and then, yesterday, with Symmetricon, Inc. (Nasdaq:SYMM) ("SYMM" or "Symmetricon").

Arcadia was pleased to see that within days of each other, BOLT and SYMM, both among Arcadia's largest positions, issued a significant special dividend and announced an aggressive share buyback, respectively.

Richard Rofé, Arcadia's Managing Director, praised the management and boards of both Bolt and Symmetricon on their recent announcements. "It is refreshing and gratifying when good judgment prevails and management teams and boards make the right decisions for their companies and shareholders," Rofé stated.

Last week, Bolt rewarded shareholders with plans for a special dividend. Yesterday, Symmetricon management gave details of a formidable buyback plan. "As evidenced by the companies' recent announcements, both [Bolt Technology Corp. and Symmetricon, Inc.] management teams took action that confirmed Arcadia's strong belief that intrinsic value was significantly greater than recent market pricing," Rofé added. "These are strong and viable businesses, and ones whose shareholders are best served through the use of balance sheet cash that benefits those holders in a direct fashion."

Arcadia's belief is that management of both BOLT and SYMM were quite deliberate and savvy in their timing for their respective plans, observing that shareholder value-enhancing initiatives like these are more potent in periods of market dislocation and increased volatility. "What we might have here, in the case of both companies, is a moment in time that the markets will look back at months or years from now and regard as the catalyst for a very important period of capital appreciation," Rofé concluded.

About Arcadia Capital Advisors, LLC

Arcadia Capital Advisors is a private investment firm based in New York that employs a value-oriented investment philosophy in the management of long/short hedge funds focused on small and micro-cap companies. The firm is led by Richard Rofé and is sponsored by M.D. Sass-Macquarie Financial Strategies.

CONTACT: Arcadia Capital Advisors
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