HOUSTON and WEST CHESTER, Pa., June 15, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ:HWCC) (HWCC) and Omni Cable, LLC (OmniCable) today announced that the acquisition of HWCC by OmniCable has been completed, following approval of the transaction by HWCC stockholders at a special meeting earlier today. The transaction was announced on March 25, 2021. Under the terms of the merger agreement, HWCC stockholders will receive $5.30 in cash for each share of HWCC common stock they hold. As a result of the completion of the merger, HWCC common stock will be removed from listing on the Nasdaq Global Market, and Nasdaq will suspend trading in HWCC shares as of the close of business

HOUSTON, April 29, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ:HWCC) (HWCC) has postponed its Annual Meeting of Stockholders in light of its proposed merger with a subsidiary of Omni Cable, LLC (OmniCable) pursuant to the Agreement and Plan of Merger dated as of March 24, 2021, among OmniCable, its subsidiary and HWCC. The 2021 Annual Meeting of Stockholders was to have been held on May 25, 2021, but because the HWCC Board of Directors anticipates that the merger transaction will close in the second quarter of 2021, the Board determined that the Annual Meeting should be postponed. A postponed Annual Meeting will be held (and the meeting date, record date and related date

HOUSTON, Texas and WEST CHESTER, Pa., March 25, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (NASDAQ: HWCC) (HWCC) and Omni Cable, LLC (OmniCable) today announced that they have entered into a definitive agreement under which OmniCable will acquire all outstanding shares of HWCC common stock for $5.30 per share in an all-cash transaction valued at $91 million. The price represents a premium of 39% to HWCC’s unaffected closing price of $3.80 on March 24, 2021 and an 89% premium to the $2.81 average closing price for the preceding 12-month period. The transaction was unanimously approved by HWCC’s Board of Directors. All HWCC directors and officers have agreed to vote their shares,

HOUSTON, March 15, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq: HWCC) today announced that it completed the sale of its Southwest Wire Rope business, a leading provider of lifting slings and wire rope and rigging products, for a purchase price of $5 million, subject to a working capital adjustment. The sale excluded approximately $2.9 million of trade accounts receivable, which HWCC retained. HWCC used the net sales proceeds of approximately $3.4 million to further reduce revolver debt. James L. Pokluda III, HWCC President & CEO commented, “We are pleased that we were able to complete the sale of Southwest Wire Rope and, as communicated in prior releases, applied all sal

HOUSTON, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq: HWCC) today announced that it has entered into a definitive asset purchase agreement for the sale of its Southwest Wire Rope business, a leading provider of lifting slings and wire rope and rigging products, for a purchase price of $5 million, subject to a working capital adjustment. The sale excludes approximately $2.6 million of trade accounts receivable, which HWCC will retain. HWCC expects to use the net sales proceeds and accounts receivable collections to further reduce Revolver debt.   HWCC has already reduced Revolver debt to approximately $21.4 million as of January 13, 2021, from a peak of $95.2 mill

HOUSTON, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq: HWCC) today announced that it completed the sale of its Southern Wire business, a leading wholesale distributor of wire rope and rigging products, to Southern Rigging Companies. The sale closed on December 31, 2020 for a purchase price of $20 million, subject to a working capital adjustment. HWCC used the net proceeds of approximately $18.1 million to reduce debt. The Company made great progress reducing debt during the year as Revolver debt decreased $66.4 million from its peak of $95.2 million in the first quarter to $22.6 million at year-end. The Revolver debt reflects proceeds from the sale of the Souther

HOUSTON, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Houston Wire & Cable Company (Nasdaq: HWCC) today announced that it has entered into a definitive asset purchase agreement for the sale of its Southern Wire business, a leading wholesale distributor of wire rope and rigging products, for a purchase price of $20 million, subject to a working capital adjustment. HWCC expects to use the net sales proceeds to reduce debt. James L. Pokluda III, HWCC President & CEO commented, “Southern Wire is a company with outstanding leadership, team members and a proven track record of providing superior products, customer service and operational excellence for 48 years. We are very thankful for their multiple con

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