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MINNEAPOLIS, MN – Regis Corporation (NASDAQ:RGS), a leader in the hair salon industry, has amended its Tax Benefits Preservation Plan to extend its expiration date by three years. Originally set to expire on January 29, 2025, the new amendment pushes the date to January 29, 2028.
This extension was formalized on Monday, with the amendment to the plan involving Equiniti Trust Company, LLC, as the rights agent. The company has announced that it will seek shareholder ratification for the extension at its upcoming annual or special meeting.
The Tax Benefits Preservation Plan, first reported in a Form 8-K filed on January 30, 2024, is designed to protect the company's valuable tax assets by deterring an ownership change that could limit the company's ability to utilize these assets. Details of the amendment can be found in the full text of the document, which is incorporated by reference into the 8-K filing.
Regis Corporation has not disclosed any further details regarding the extension other than those pertaining to the amendment itself. The company's shareholders will have the opportunity to vote on the extension, ensuring their participation in the decision-making process.
The company's stock, which includes common stock and rights to purchase series A junior participating preferred stock, continues to be traded on the Nasdaq Global Select Market under the ticker symbol RGS.
This update is based on information from a press release statement and serves to inform stakeholders of the latest developments regarding Regis Corporation's efforts to safeguard its tax benefits.
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