Colonial Commercial extends tender offer of preferreds to Oct. 20

By Devika Patel

Knoxville, Tenn., Oct. 7 - Colonial Commercial Corp. announced it has extended a tender offer for any and all of its 447,891 shares of convertible preferred stock for $1.25 each, without interest, to midnight ET on Oct. 20 from midnight ET on Sept. 22.

As of Oct. 6, 138,896 preferreds were tendered under this offer.

There is no minimum tender condition.

The preferreds have a liquidation preference of $5.00 each and are convertible into one common share.

American Stock Transfer and Trust Co. is the depositary. The information agent is MacKenzie Partners, Inc. (800 322-2885).

On July 8, the closing price of the company's preferreds was $0.61 apiece. The preferreds closed at $1.20 on July 20, which was the last day the preferreds traded prior to the start of the offer.

Hawthorne, N.J.-based Colonial Commercial distributes heating, ventilating and air conditioning equipment parts and accessories. It announced plans for the offer on July 9.

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