Mace Security International finalizes controversial merger with W Electric Holdings

In Cleveland, Ohio, Mace Security International, Inc. completed its merger on December 6, 2024, in accordance with the Agreement and Plan of Merger established on October 12, 2024. The merger involved W Electric Intermediate Holdings, LLC, its wholly-owned subsidiary Mace Merger Sub, Inc., and a representative for the Company's stockholders. With Charles A. Gaddis serving as the Stockholders' Representative, the merger was sanctioned during a Special Meeting of stockholders held on December 3, 2024. Upon the completion of the merger, Mace Security International became a private entity, fully owned by W Electric Intermediate Holdings. Its common stock, which had been traded on the OTC QB Market, will be removed from quotations following the end of trading on December 6, 2024. Each share of the company's common stock, excluding specific excluded and dissenting shares, is canceled in exchange for cash consideration of $0.015777 per share. A paying agent, Equiniti Trust Company, LLC, has been designated to manage the distribution of Letters of Transmittal to registered shareholders. This allows shareholders to submit their share certificates and receive the cash payment for their shares according to the merger agreement. Mace Security International has reached this point through a series of legal and financial considerations designed for the transaction's success. The company looks forward to its new standing as a private entity, reflecting on opportunities that may precede this change. In recent years, companies proceeding with mergers and acquisitions have often faced various economic and market challenges, many exacerbated during and following the COVID-19 pandemic. Factors possibly influencing these transitions include fluctuations in consumer behavior, increased competition, and global economic conditions. The completion of the merger is a significant step for Mace Security International as it navigates these complexities, aiming to streamline operations and better position itself in the evolving market landscape.