Globe Newswire 12-Jul-2019 4:28 PM
VANCOUVER, Wash., July 12, 2019 (GLOBE NEWSWIRE) -- Northwest Pipe Company (NASDAQ:NWPX), an industry leader of engineered welded steel pipe products for the water transmission market, announced today that its Shareholder Rights Agreement has expired in accordance with its terms and is of no further force or effect. The related Preferred Stock Purchase Rights (the "Rights") distributed to holders of the Company's common stock pursuant to the Rights Agreement expired upon the expiration of the Rights Agreement.
In connection with the expiration of the Rights Agreement, the Company will be taking routine actions to voluntarily deregister the Rights under the Securities Exchange Act of 1934, as amended (the "Exchange Act") and to delist the Rights from the Nasdaq Global Select Stock Market ("Nasdaq"). These actions are administrative in nature and will have no effect on the Company's common stock, which continues to be listed on Nasdaq and registered under the Exchange Act.
About Northwest Pipe Company – Founded in 1966, Northwest Pipe Company is the largest manufacturer of engineered welded steel pipe water systems in North America. The Company produces high-quality engineered steel water pipe, bar-wrapped concrete cylinder pipe, Permalok® steel casing, T-Lock® and Arrow-Lock® PVC liners, as well as custom linings, coatings, joints, and one of the largest offering of fittings and specialized components in North America. Northwest Pipe Company provides solution-based products for a wide range of markets including water transmission, water and wastewater plant piping, trenchless technology, and piping rehabilitation. Strategically positioned to meet growing water and wastewater infrastructure needs, the Company is headquartered in Vancouver, Washington, and has manufacturing facilities across North America. Please visit www.nwpipe.com for more information.
Contact: Robin Gantt Chief Financial Officer Northwest Pipe Company 360-397-6325 • firstname.lastname@example.org