COPPELL, Texas, June 14, 2018 /PRNewswire/ -- Universal Power Group, Inc. (the "Company")(OTCMKTS: UPGI), a Texas- based provider of batteries, related power accessories and supply chain solutions, today announced the closing of the transactions contemplated by the previously-announced Agreement and Plan of Merger, dated May 9, 2018, (the "Merger Agreement"), by and among UPGI Holdings, Inc., a Delaware corporation (the "Parent"), Project Phoenix Merger Sub, Inc., a Texas corporation and the Company, pursuant to which the Company became a wholly-owned subsidiary of the Parent, and the former minority shareholders of the Company received the right to proceeds of $2.24 per share. The Merger Agreement was approved at a special meeting of stockholders of the Company held on June 13, 2018. The Company has advised OTC Markets and the Financial Industry Regulatory Authority, Inc. (FINRA) that the Company's securities are no longer eligible for public quotation or trading.
About Universal Power Group, Inc.
UPG is a leading supplier of batteries, power accessories, wire and cable products, and a provider of supply chain solutions. UPG's offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jumpstarters, and other power accessories. UPG's supply chain services include sourcing, procurement, warehousing, inventory management, distribution and fulfillment. Through its wholly owned subsidiaries, iTECH and ProTechnologies, Inc., UPG's expanded offerings include the manufacture of smart lithium-ion batteries, chargers, docking stations, vehicle cradles and power subsystems for performance critical applications. For more information, please visit the UPG website at www.upgi.com.
SOURCE Universal Power Group, Inc.