Axar Patel

StoneMor Announces Completion of Merger with Axar Affiliate

Retrieved on: 
Thursday, November 3, 2022
Securities Exchange Act of 1934, Company, Date, Private Securities Litigation Reform Act, Funeral, Common stock, EDT, Board, Risk, GLOBE, Letter, Death, Exchange, NYSE, Cemetery, Treasury, Agreement, New, Annual report, U.S. Securities and Exchange Commission, Sub, Plan, Tripura Merger Agreement, Security (finance), Holding company, Mergers and acquisitions, Parent, Axar Patel

BENSALEM, Pa., Nov. 03, 2022 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) (StoneMor or the Company), a leading owner and operator of cemeteries and funeral homes, today announced the completion of the merger contemplated by the previously announced Agreement and Plan of Merger (the Merger Agreement), dated as of May 24, 2022, by and among the Company, Axar Cemetery Parent Corp. (Parent), a Delaware corporation and an indirect wholly-owned subsidiary of Axar Capital Management, LP (Axar), and Axar Cemetery Merger Corp., a Delaware corporation and a wholly-owned subsidiary of Parent (Merger Sub), pursuant to which Merger Sub was merged with and into the Company (the Merger), with the Company surviving the Merger as the surviving corporation (the Surviving Corporation) and becoming a wholly-owned subsidiary of Parent.

Key Points: 
  • BENSALEM, Pa., Nov. 03, 2022 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) (StoneMor or the Company), a leading owner and operator of cemeteries and funeral homes, today announced the completion of the merger contemplated by the previously announced Agreement and Plan of Merger (the Merger Agreement), dated as of May 24, 2022, by and among the Company, Axar Cemetery Parent Corp. (Parent), a Delaware corporation and an indirect wholly-owned subsidiary of Axar Capital Management, LP (Axar), and Axar Cemetery Merger Corp., a Delaware corporation and a wholly-owned subsidiary of Parent (Merger Sub), pursuant to which Merger Sub was merged with and into the Company (the Merger), with the Company surviving the Merger as the surviving corporation (the Surviving Corporation) and becoming a wholly-owned subsidiary of Parent.
  • The Merger became effective at 4:05 p.m. EDT on November 3, 2022 (the Effective Time).
  • As a result of the Merger, the Company became an indirect wholly-owned subsidiary of Axar.
  • Stockholders will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the Merger Consideration.

Leading Independent Proxy Advisory Firm ISS Recommends StoneMor Stockholders Vote “FOR” the Transaction with Axar Affiliate

Retrieved on: 
Wednesday, October 12, 2022
Cemetery, Proxy, U.S. Securities and Exchange Commission, Risk, SEC, ISS, NYSE, Annual report, Security (finance), Axar Patel, Funeral, Private Securities Litigation Reform Act, Company, Reading, GLOBE, Special, Proxy statement, Death, Suite, Ownership, Holding company, Life insurance, Shareholder

The Company is pleased that ISS shares its belief that the transaction with Axar is in the best interests of all StoneMor stockholders and supports the Boards recommendation that stockholders vote FOR the transaction, said Joe Redling, StoneMors President and Chief Executive Officer.

Key Points: 
  • The Company is pleased that ISS shares its belief that the transaction with Axar is in the best interests of all StoneMor stockholders and supports the Boards recommendation that stockholders vote FOR the transaction, said Joe Redling, StoneMors President and Chief Executive Officer.
  • The transaction with Axar delivers significant, immediate and certain value to our public stockholders, eliminating their exposure to the execution risks and significant macroeconomic headwinds associated with continuing as a standalone company.
  • The Company strongly urges all of its stockholders to follow the recommendation of ISS by voting FOR this value-maximizing transaction.
  • Stockholders will be able to attend the Special Meeting, vote and submit questions during the Special Meeting via live webcast by visiting www.virtualshareholdermeeting.com/STON2022SM.

Axar Capital Management Announces Acquisition of Pavonia Life Insurance Company of Michigan

Retrieved on: 
Thursday, September 15, 2022
Finance, Business, Professional Services, Other Professional Services, Insurance, CFO, University of St. Thomas (Minnesota), Sale, Acquisition, Industry, Allianz Life, Guarantee Security Life Insurance Company, District, CEO, Axar Patel, Life, Mark, Solution, Conyers, Georgia, Insurance, Oaktree Capital Management, University, Chartered Financial Analyst, Certified Public Accountant, Lead, Management, Accounting

Axar Capital Management LP (Axar) today announced the completion of its acquisition of Pavonia Life Insurance Company of Michigan (Pavonia), a Michigan domiciled life insurance company.

Key Points: 
  • Axar Capital Management LP (Axar) today announced the completion of its acquisition of Pavonia Life Insurance Company of Michigan (Pavonia), a Michigan domiciled life insurance company.
  • We are excited to have completed the acquisition of Pavonia, said Andrew Axelrod, Founder and Managing Partner at Axar Capital.
  • We are also exceptionally pleased to have Mark Zesbaugh partner with Axar and lead the company as Executive Chairman.
  • Founded in 1980, Pavonia is a Michigan domiciled life insurance company licensed to underwrite business in 49 states, the District of Columbia and Canada.

Lifshitz Law PLLC Announces Investigation of MN, PSB, VMW, and STON

Retrieved on: 
Sunday, June 19, 2022
PSB, Broadcom Inc., LLC, Advertising, Hewlett, MN, Telephone, Axar Patel, Sale, Online shopping, Security (finance), Online gambling

Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of MN to Callodine Group, LLC for $12.85 in cash per share of MN owned.

Key Points: 
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of MN to Callodine Group, LLC for $12.85 in cash per share of MN owned.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of PSB to affiliates of Blackstone Real Estate for $187.50 in cash per share of PSB owned.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of VMW to Broadcom Inc.
  • The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780.

Lifshitz Law PLLC Announces Investigation of MN, PSB, SAIL, and STON

Retrieved on: 
Wednesday, June 8, 2022
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If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.

Key Points: 
  • If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of PSB to affiliates of Blackstone Real Estate for $187.50 in cash per share of PSB owned.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of SAIL to Thoma Bravo for $62.25 in cash per share of SAIL owned.
  • The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780.

Lifshitz Law PLLC Announces Investigation of MN, PSB, SAIL, and STON

Retrieved on: 
Wednesday, June 8, 2022
Hewlett, LLC, Telephone, PSB, Sale, MN, Advertising, Axar Patel, Thoma Bravo, SAIL, Online shopping, Online gambling

If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.

Key Points: 
  • If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of PSB to affiliates of Blackstone Real Estate for $187.50 in cash per share of PSB owned.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of SAIL to Thoma Bravo for $62.25 in cash per share of SAIL owned.
  • The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780.

StoneMor Inc. Commences Go-Shop Process in Accordance with Merger Agreement

Retrieved on: 
Friday, June 3, 2022
Sub, Company, Interest, LLC, Ownership, Tripura Merger Agreement, Security (finance), Committee, U.S. Securities and Exchange Commission, GLOBE, Plan, Private Securities Litigation Reform Act, Risk, ARE, NYSE, Axar Patel, SEC, Board, Cemetery, Funeral, Death, Suite, Life insurance, Mergers and acquisitions, Parent

The Merger Agreement was entered into following negotiations between Axar and the Conflicts Committee of the Board of Directors of the Company (the Conflicts Committee), consisting entirely of independent directors.

Key Points: 
  • The Merger Agreement was entered into following negotiations between Axar and the Conflicts Committee of the Board of Directors of the Company (the Conflicts Committee), consisting entirely of independent directors.
  • Upon the recommendation of the Conflicts Committee, the Board of Directors of the Company agreed to approve the Merger Agreement and the Merger.
  • There can be no assurance that this go-shop process will result in a proposal that is more favorable to the stockholders of the Company (other than Axar and its affiliates) than the Merger Agreement.
  • Pursuant to the Merger Agreement, in connection with a superior proposal that is not supported by the Parent, the Committee may withdraw its recommendation to the full Board approving the Merger Agreement and the Merger and the Company may terminate the Merger Agreement.

STONEMOR ALERT: Bragar Eagel & Squire, P.C. Investigates Merger of STON and Encourages Investors to Contact the Firm

Retrieved on: 
Wednesday, June 1, 2022
Squire, Telephone, GLOBE, NYSE, Acquisition, Axar Patel, LP, Learning, P.C, Property management

On May 25, 2022, StoneMor announced that it had entered into an agreement to be acquired by Axar in an all-cash deal.

Key Points: 
  • On May 25, 2022, StoneMor announced that it had entered into an agreement to be acquired by Axar in an all-cash deal.
  • Pursuant to the merger agreement, StoneMor stockholders will receive $3.50 in cash for each share of StoneMor common stock owned.
  • Bragar Eagel & Squire is concerned that StoneMors board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

Lifshitz Law PLLC Announces Investigation of MN, PSB, SAIL, and STON

Retrieved on: 
Sunday, May 29, 2022
Hewlett, Telephone, MN, Thoma Bravo, Advertising, SAIL, Sale, Axar Patel, LLC, PSB, Online shopping, Online gambling

If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.

Key Points: 
  • If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of PSB to affiliates of Blackstone Real Estate for $187.50 in cash per share of PSB owned.
  • Lifshitz Law PLLC announces investigation into possible breach of fiduciary duties in connection with the sale of SAIL to Thoma Bravo for $62.25 in cash per share of SAIL owned.
  • The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780.

BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: StoneMor Pharmaceutical Holding Company Ltd. (NYSE - STON), Covetrus Pharmaceutical Holding Company Ltd. (Nasdaq - CVET), Höegh LNG Partners LP (NYSE - HMLP), PCSB F

Retrieved on: 
Wednesday, May 25, 2022
Dubilier, Company, Partnership, Nasdaq, Brodsky, LNG, PCSB, CD, Clayton, Dubilier & Rice, TPG, CD&R, TPG Capital, Axar Patel, NYSE, GLOBE, Security (finance), Cruise line

If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.

Key Points: 
  • If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.
  • StoneMor Pharmaceutical Holding Company Ltd. (NYSE - STON)
    Under the terms of the agreement, StoneMor will be acquired by Axar Capital Management, LP (Axar).
  • Axar will acquire all outstanding shares of StoneMor not already owned by Axar for $3.50 per share in cash.
  • Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits.