Scpie (NYSE:SKP)
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From Jun 2019 to Jun 2024
SCPIE Holdings Inc. (NYSE:SKP), a major provider of healthcare liability
insurance, announced that it notified the NYSE Euronext of its intent to
delist its common stock, par value $0.0001 per share, from the New York
Stock Exchange immediately following the consummation of the
transactions contemplated by the Agreement and Plan of Merger, dated
October 15, 2007, by and among The Doctors Company, Scalpel Acquisition
Corp., a wholly owned subsidiary of Parent, and SCPIE.
Subject to the terms and conditions of the Agreement and Plan of Merger,
at the effective time of the merger, each issued and outstanding share
of SCPIE common stock (other than shares of SCPIE common stock owned by
The Doctors Company, Scalpel Acquisition Corp., or in the treasury of
SCPIE) will be cancelled and converted into the right to receive $28.00
in cash, without interest.
As a result of the merger, SCPIE will cease to be a publicly traded
company.
The merger is subject to verification that SCPIE’s
stockholders have approved the merger and the receipt of insurance
regulatory approvals. The final vote count from the special meeting of
SCPIE’s stockholders to consider the merger is
expected within approximately one week.
About SCPIE Holdings
SCPIE Holdings Inc. is a leading provider of healthcare liability
insurance for physicians, oral and maxillofacial surgeons, and other
healthcare providers, as well as medical groups and healthcare
facilities. Since the company was founded in 1976, it has carved out a
significant niche in the insurance industry by providing innovative
products and services specifically for the healthcare community.
Additional information on SCPIE Holdings can be found on the company’s
website: www.scpie.com.
Forward-Looking Statements
This news release contains forward-looking statements that involve
material risks and uncertainties. Such forward-looking statements,
including, but not limited to, statements relating to the consummation
of the proposed transaction and the terms and timing thereof, are
subject to change based on factors beyond the control of SCPIE. Risks
and uncertainties regarding the transaction include the possibility that
the closing does not occur, or is delayed, either due to the failure of
closing conditions, including approval of SCPIE’s
stockholders, the failure to obtain required regulatory approvals or
other reasons. Other factors that may cause actual results to differ
from the forward-looking statements contained herein and that may affect
the Company’s prospects are included in the
Company’s other filings with the SEC. SCPIE
expressly disclaims any obligation to publicly release any updates or
revisions to any such forward-looking statement to reflect any change in
its expectations or any change in events, conditions or circumstances on
which any such statement is based.