PITTSBURGH, PA — (Marketwire) — 04/18/12 — HWI Global, Inc. (OTCBB: HWIC), the Pittsburgh-based clean room design builder, today announced that it intends to deregister the Company-s common stock under Sections 12(g) and 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”). The Company is filing the applicable form with the Securities and Exchange Commission (“SEC”) to deregister its common stock under the Exchange Act today. As a result, the Company-s obligations to file annual, quarterly and current reports under the Exchange Act will be suspended after such filing with the SEC and its proxy statement, Section 16 and other Section 12(g) filing responsibilities, will terminate effective 90 days after the filing.
HWI Global, Inc. has less than 300 shareholders of record, which enables the Company to take this action. The Board of Directors concluded that the consequences of remaining an SEC-reporting company outweighed the current benefits of public company status. Among the factors considered were (1) the significant costs, both direct and indirect, incurred by HWI each year in connection with the preparation and filing of annual, quarterly and current reports; (2) the limited financial resources of the Company available for compliance in submitting periodic reports and forms with the SEC, audit and legal fees, Sarbanes-Oxley Section 404 documentation and testing, Board of Directors fees and public company reporting and filing fees; (3) the lack of institutional investor interest and analyst coverage; and (4) the thinly traded nature of the HWI common stock.
About HWI Global
HWI Global, Inc. is a leader in clean room design engineering and construction servicing clients in the Life Science, Health Science, Nanotechnology, Microelectronics, and Aerospace industries. Since its incorporation in 2004, HWI Global has effectively constructed classified facilities for R&D, food & beverage, contract manufacturers, and OEM providers. From low volume sterile compounding to high volume manufacturing and packaging applications, HWI Global provides value-engineered solutions for any custom clean room condition. HWI Global and its network of subject matter experts — from leading architects, engineers, facilities planners, and specialized installers — effectively design and construct state-of-the-art clean environments in a “turnkey” fashion. For more information, please visit our website at
Forward-looking Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. The risks and uncertainties that could cause actual results to differ materially, include, among others, limited access to capital, additional financing requirements, competition, the ability to attract and retain qualified employees, the ability to execute our strategy, the uncertainty of our future operating performance, the inability to manage growth, compliance with government regulations and legal liabilities, the effect of economic conditions in the business sectors in which we operate, and other uncertainties described in the Company-s filings with the Securities and Exchange Commission. Many of these factors are beyond our ability to predict or control. In addition, as a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this news release.
Contact:
Investor Relations:
Mark Kabbash
646-408-2661
or
Media Relations:
Jerry Jennings
561-881-7318
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