Manning & Napier, Inc. Announces Expiration of Shareholder Rights Agreement
Rhea-AI Summary
Manning & Napier, Inc. (NYSE: MN) announced the expiration of its shareholder rights agreement on April 14, 2021. Shareholders are not required to take any actions due to this termination. The Company will voluntarily de-register the related preferred stock purchase rights under the Securities Exchange Act of 1934. These administrative actions will not affect Manning & Napier's common stock, which remains listed on the NYSE.
Positive
- No action required from shareholders regarding the agreement's expiration.
- Common stock remains unaffected and listed on the NYSE.
Negative
- None.
News Market Reaction – MN
In the trading session that priced this news, MN declined 3.33%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAIRPORT, N.Y., April 15, 2021 /PRNewswire/ -- Manning & Napier, Inc. (NYSE: MN), ("Manning & Napier" or "the Company") today announced that its shareholder rights agreement (the "Agreement") expired in accordance with its terms on April 14, 2021. Shareholders are not required, nor do they need to take any action because of the termination of this shareholder rights agreement.
In connection with the expiration of the Agreement, the Company will take routine steps to voluntarily de-register the related preferred stock purchase rights under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company has not arranged for listing or registration on another national securities exchange or quotation for the preferred stock purchase rights, because such rights have terminated.
These actions are administrative in nature and will have no effect on the Company's common stock, which continues to be listed under the NYSE and registered under the Exchange Act.
About Manning & Napier, Inc.
Manning & Napier (NYSE: MN) provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trust funds, as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, including life cycle funds. We serve a diversified client base of high-net-worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. For many of these clients, our relationship goes beyond investment management and includes customized solutions that address key issues and solve client-specific problems. We are headquartered in Fairport, NY.
Contacts
Investor Relations Contact
Sean Silva
Prosek Partners
646-818-9122
ssilva@prosek.com
Public Relations Contact
Nicole Kingsley Brunner
Manning & Napier, Inc.
585-325-6880
nbrunner@manning-napier.com
View original content:http://www.prnewswire.com/news-releases/manning--napier-inc-announces-expiration-of-shareholder-rights-agreement-301270154.html
SOURCE Manning & Napier, Inc.