Boulder Buying Smart Balance
Stockholders also approved a number of related proposals, including a proposal to change the combined company's name to Smart Balance, Inc., as well as the company's proposed stock incentive plan for employees.
Of the 11,439,610 eligible common shares voted at the meeting (representing 89.6% of shares entitled to vote on the merger proposal), 99.9% voted in favor of the acquisition, with only 500 shares abstaining from the vote. No holders of shares issued in the company's initial public offering voted against the acquisition and none elected to have such shares converted into a pro rata portion of the IPO trust account.
Boulder plans to complete the acquisition of GFA within the next several days. Soon thereafter, the company intends to apply for listing on NASDAQ under the symbol SMBL.
The acquisition of GFA and related proposals were described in a proxy statement Boulder filed with the SEC. Investors and security holders are advised to read the proxy statement carefully because it contains important information. Investors and security holders may obtain such materials and other documents filed by Boulder from the SEC's web site at .
This press release is not a proxy statement or a solicitation of proxies from the holders of common stock of Boulder and does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Boulder. Investors and security holders of Boulder are urged to read the proxy statement because it contains important information about Boulder, GFA and the acquisition of GFA.
Boulder was formed for the specific purpose of consummating a business combination in the food or beverage industries. In December 2005, Boulder completed its initial public offering. GFA, based in Cresskill, New Jersey, markets various foods under the Smart Balance(R), Earth Balance(R), Smart Beat(R) and other brand names. GFA is a licensee of Brandeis University for its patented oil blend to help improve HDL/LDL cholesterol ratios.
From the May 23, 2007, Prepared Foods e-Flash