Orange 21 confirms preliminary discussions with No Fear Inc
20 Jul '07
2 min read
As a result of Mr. Simo's position, the board of directors of Orange 21 established the Special Committee comprised entirely of independent directors to evaluate and recommend a course of action with respect to the possible strategic transaction.
Orange 21 expects to seek the approval of its stockholders for any transaction with No Fear, should the Special Committee and No Fear agree to such a transaction.
Orange 21 does not expect to update the status of any discussions until a definitive agreement is executed or it becomes apparent that no transaction will occur.
The Special Committee has engaged W.R. Hambrecht + Co to assist it in evaluating the potential transaction. No Fear has engaged Thomas Weisel Partners LLC to assist it in evaluating the potential transaction.
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