CHELMSFORD, Mass.–(BUSINESS WIRE)–Sycamore Networks, Inc. (NASDAQ: SCMR) (the “Company”) appear today that it has filed a affidavit of dissolution with the Secretary of State of the State of Delaware (the “Certificate of Dissolution”), as advised by the Plan of Complete Liquidation and Dissolution ahead accustomed by the Company’s Lath of Directors and stockholders. The Affidavit of Dissolution, which became able at 5:00 p.m. Eastern Time on March 7, 2013, provides for the dissolution of the Aggregation beneath Delaware’s General Corporation Law.
In affiliation with the filing of the Affidavit of Dissolution, able as of 5:00 p.m. Eastern Time on March 7, 2013, the Aggregation bankrupt its banal alteration books and discontinued recording transfers of its accepted stock, $0.001 par bulk per allotment (the “Common Stock”). The Accepted Stock, and banal certificates evidencing the shares of Accepted Stock, are no best assignable or communicable on the Company’s books, added than transfers by will, intestate assumption or operation of law.
On March 4, 2013, the Aggregation submitted a appeal to The NASDAQ Banal Bazaar (“NASDAQ”) to (1) append trading of the Accepted Banal on The NASDAQ Global Select Bazaar able as of the aing of trading on March 7, 2013 and (2) append the capability of the Company’s NASDAQ trading attribute able as of the aing of trading on March 7, 2013. The Aggregation additionally notified NASDAQ of its ambition to book a Form 25 with the Balance and Exchange Commission on or about March 15, 2013 to abjure the allotment of the Accepted Banal beneath Area 12(b) of the Balance Exchange Act of 1934, as amended, and requested that NASDAQ booty the accomplishments all-important to aish the Company’s NASDAQ advertisement able above-mentioned to the aperture of trading on March 25, 2013.
Upon abeyance of trading of the Accepted Banal on The NASDAQ Global Select Market, shares of Accepted Banal captivated in artery name with brokers may be traded in the over-the-counter bazaar on an cyberbanking account lath accustomed for unlisted balance such as the OTC Account Lath or the Pink Sheets. Such trading may abate the bazaar clamminess of the Accepted Banal and, as a result, investors may acquisition it added difficult to actuate of, or access authentic quotations for the bulk of, the Accepted Stock, if they are able to barter the Accepted Banal at all.
About Sycamore Networks, Inc.
Sycamore Networks, Inc. (NASDAQ: SCMR) is based in Chelmsford, Massachusetts. For added information, amuse appointment www.scmrinc.com.
Safe Harbor for Forward-Looking Statements
We ambition to attention you that assertive affairs discussed in this columnist absolution may aggregate “forward-looking statements,” as authentic beneath the federal balance laws. Risks and uncertainties apropos to the Aggregation could account absolute contest and after-effects to alter materially from those declared or adumbrated in such statements. Abeyant risks and uncertainties include, amid others, the Company’s disability to adumbrate the timing or bulk of any added banknote distributions to stockholders; the achievability that liabilities of the Aggregation could be greater than anticipated; abeyant liabilities of the Company’s stockholders to the Company’s creditors in the accident that the Aggregation fails to actualize an able accident assets to amuse claims adjoin it; the bound adeptness of the Company’s stockholders to barter their shares afterward the aing of the Company’s banal alteration books; and the Company’s continuing costs associated with acknowledging with accessible aggregation advertisement requirements. Added advice about abeyant factors that could affect the Company’s dissolution and the bulk of any approaching distributions is included in the area advantaged “Risk Factors” in the Company’s filings with the Balance and Exchange Commission. The Aggregation disclaims any ambition or obligation to amend or alter any advanced statements, whether as a aftereffect of new information, approaching after-effects or otherwise.
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