Lime Energy Going Private Transaction
Yet again we have another idea for the very small investor. Lime Energy is doing a very similar thing as PBOX and cashing out its shareholders on record who hold less than either 300, 500, or 1,000 (depending on how the vote goes) at a price of $2.49 . They're a little bit farther along in the process than PBOX is and have a date for the meeting, January 31st at 9:00am. The two main parties of this company are Bison Capital who own 30.1% of the outstanding shares and Mr. Capps who owns 29.7%, respectively. They easily decide the vote AND they would vote for in favor of the reverse/forward split because the company saves $825k-1M by going private (ie not having to file reports with the SEC). The question is will they vote to cash out those who own less than 300, 500, or 1,000? According to the proxy as of December 20th there were about 900 shareholders of record. 467 stockholders held only a single share, and 650 stockholders held less than 10 shares. From a c...
