SOUTHFIELD, Mich., Nov. 13, 2014 /PRNewswire/ -- Origen Financial, Inc. (Pink Sheets: ORGN) ("Origen" or the "Company"), a real estate investment trust that manages residual interests in securitized manufactured housing loan portfolios, today announced, following a special meeting of stockholders, that its stockholders have approved the sale of substantially all of Origen's assets to an affiliate of GoldenTree Asset Management LP. Contingent upon the closing of the asset sale, Origen's stockholders also approved the subsequent liquidation and dissolution of Origen. Completion of the sale and subsequent dissolution is conditioned upon receipt of certain third-party consents, and certain other closing conditions customary for transactions of this type. Origen expects the asset sale to close prior to December 31, 2014.
Ronald Klein, Origen's Chief Executive Officer, stated, "We are gratified that our stockholders have approved the proposed asset sale and subsequent liquidation and dissolution of Origen. We look forward to closing the transaction as soon as all conditions to closing are satisfied."
This press release contains various "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and Origen intends that such forward-looking statements will be subject to the safe harbors created thereby. The words "will," "may," "could," "expect," "anticipate," "believes," "intends," "should," "plans," "estimates," "approximate" and similar expressions identify these forward-looking statements. These forward-looking statements reflect Origen's current views with respect to future events and financial performance, but involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this press release. These risks and uncertainties may cause Origen's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the risk that the proposed sale of substantially all of Origen's assets is not consummated and those risks referenced under the headings entitled "Factors That May Affect Future Results" or "Risk Factors" contained in Origen's filings. The forward-looking statements contained in this press release speak only as of the date hereof and Origen expressly disclaims any obligation to provide public updates, revisions or amendments to any forward- looking statements made herein to reflect changes in Origen's expectations or future events.
About Origen Financial, Inc.
Origen is an internally managed and internally advised company that has elected to be taxed as a real estate investment trust. Origen is based in Southfield, Michigan.
For more information about Origen, please visit http://www.origenfinancial.com.
SOURCE Origen Financial, Inc.