CARLSBAD, Calif.--(BUSINESS WIRE)--Onsite Energy Corporation (OTC PINK: ONSE) (“Onsite”) announced today that pursuant to the Plan of Dissolution and Distribution approved by its Board of Directors and stockholders representing a majority of the voting and outstanding shares of capital stock, the Board of Directors further approved a second and final liquidating cash distribution of $0.0790 per share of Class A Common Stock, payable to each stockholder of record as of the close of business on the record date of April 21, 2020, for each share of Class A Common Stock held as of such date (the “Final Distribution”). Onsite intends to make the payment on or about June 1, 2020, or as soon as practical following the record date. Onsite’s transfer agent, American Stock Transfer & Trust Company, LLC (“AST”), will be the paying agent for the Final Distribution. AST can be reached by phone at (800) 937-5449 or (718) 921-8124, or by e-mail at firstname.lastname@example.org.
Onsite intends to make no further liquidating distributions. In connection with the payment of the Final Distribution, the shares of capital stock of Onsite will be cancelled and the former holders of capital stock of Onsite will thereafter have only the right to receive the Final Distribution.
As previously announced, Onsite’s Certificate of Dissolution was filed with the Delaware Secretary of State on August 26, 2019, and the dissolution became effective on September 6, 2019. Onsite’s stock transfer records are closed and Onsite’s transfer agent no longer recognizes or records any transfers of shares of Class A Common Stock. The initial distribution of $0.34 per share of Class A Common Stock was made on or about September 16, 2019.