SHANGHAI, June 16, 2021 /PRNewswire/ -- Ossen Innovation
Co., Ltd. (the "Company") (Nasdaq: OSN), a China-based manufacturer of an array of plain
surface, rare earth and zinc coated pre-stressed steel materials,
today announced that it has entered into an Amendment to the
Agreement and Plan of Merger dated June 16,
2021 ("Amendment No. 1") to amend its previously
announced Agreement and Plan of Merger, dated as of December 17, 2020 (the "Merger
Agreement"), by and among the Company, New Ossen Group Limited
("Parent") and New Ossen Innovation Limited ("Merger
Sub").
The Merger Agreement provides that either the Company or Parent
may terminate the Merger Agreement if the effective time of the
merger has not occurred on or before June
17, 2021 (the "Termination Date"). Pursuant to
Amendment No. 1, the parties have agreed to extend the
Termination Date by three (3) months to September 17, 2021.
The Company's board of directors (the "Board"), acting
upon the unanimous recommendation of a committee of independent and
disinterested directors established by the Board, approved the
Amendment No. 1 to extend the Termination Date.
About Ossen Innovation Co., Ltd.
Ossen Innovation Co., Ltd. manufactures and sells a wide variety
of plain surface pre-stressed steel materials and rare earth coated
and zinc coated pre-stressed steel materials. The Company's
products are mainly used in the construction of bridges, as well as
in highways and other infrastructure projects. Ossen has two
manufacturing facilities located in Ma'anshan, Anhui Province, and Jiujiang, Jiangxi Province.
Safe Harbor Statements
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements involve
inherent risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, including
risks outlined in the Company's public filings with the Securities
and Exchange Commission, including the Company's annual report on
Form 20-F. All information provided in this press release is as of
the date hereof. Except as required by law, the Company undertakes
no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.
For more information, please contact:
Wei Hua, Chief Executive
Officer
Email: int.tr@ossengroup.com
Phone: +86-21-6888-8886
Web: www.osseninnovation.com
Investor Relations
GIC IR
Phone: +1-347-393-4230
Email: info@goldenir.com
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SOURCE Ossen Innovation Co., Ltd.