DALLAS, Jan. 21, 2016 /PRNewswire/ -- Xponential, Inc. (OTC Bulletin Board: XPOI) announced that as of December 31, 2015, the Company closed the sale of the two properties owned by PawnMart, Inc., its wholly owned subsidiary to Cash America, Inc. and received the release of the remaining $2,250,000 held in escrow related to the December 2013 sale of the assets of PawnMart to Cash America.
After calculating reserves for federal and state income taxes, the Company is making a final distribution of $1.45 per common share distribution to its common shareholders. The record date for the distribution is January 17, 2016. Effective on that date we have notified the transfer agent, Continental Stock Transfer to discontinue all trading and have notified the appropriate agencies and market makers to discontinue trading the Company's common stock.
This will be the final distribution from the Company as all assets have been liquidated. The funds will be released to shareholders on January 27, 2016.
Robert Schleizer, Chief Financial Officer of Xponential, Inc. stated "we are very pleased to close the final sale of assets, obtain the release of all of the escrow funds and make a distribution to our shareholders. The end result exceeded our expectations and we grateful for the support of our shareholders through this process."
This release may contain forward-looking statements about the business, financial condition and prospects of Xponential, Inc. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained in this release speak only as of the date of this statement, and the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstance on which any such statement is based. Certain factors that may affect the Company's future results are difficult to predict and many are beyond the control of the Company, but may include changes in regional, national or international economic conditions, the ability to maintain favorable banking relationships as it relates to short-term lending products, changes in governmental regulations, unforeseen litigation, changes in interest rates, changes in tax rates or policies, changes in gold prices, future business decisions, and other uncertainties.
Xponential, Inc. 901 Main St., Suite 600 Dallas, TX 75202 Company Contact: Robert W. Schleizer 214.882.8300
SOURCE Xponential, Inc.