Privately held Ecology Coatings, a developer of nano-engineered industrial coatings for efficient manufacturing, has agreed to merge with publicly held OCIS Corporation as part of a alternative public offering (APO) transaction.
The merged company, to be named Ecology Coatings, is expected to trade on the OTC Bulletin Board. The management of Ecology Coatings will become the management of the public entity. OCIS will offer shares of its common stock in exchange for the outstanding common stock of Ecology Coatings. Upon completion of the merger, the shareholders of Ecology Coatings are expected to hold approximately 95.2% of the common stock of the surviving public entity, while the current shareholders of OCIS will own approximately 4.8%.
Richard Stromback, Chairman of Ecology Coatings, said, “Ecology Coatings is another step closer to being accessible within the micro cap public market, creating an opportunity for investors to get involved in an emerging technology that combines the capabilities of nanotech with the benefits of cleantech.”
The closing of the merger is targeted for June 2007.
About Ecology Coatings
Ecology Coatings develops nano-engineered, ultra-violet curable coatings that drive efficiencies and clean processes in manufacturing. The company creates proprietary coatings with unique performance attributes for military, automotive, industrial, electronic and medical applications.
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