Axar Capital
Earlier this week according to this press release the Institutional Shareholder Services (ISS) recommended that shareholders of StoneMor vote “FOR” the pending transaction with a subsidiary of Axar Capital Management LP. That vote, which would take StoneMor to a private company status, is scheduled for a special stockholders meeting on November 1, 2022. Among other…
Read MoreA recent article published by Seeking Alpha indicates that the “Go Shop” period for StoneMor Inc., following the announcement of a potential going private sale to Axar Capital, is over. In the article the authors mention, “StonMor has been able to solicit other offers, which might not necessarily be take privates. The go-shop period is…
Read MoreStoneMor Inc., the Pennsylvania cemetery/funeral home consolidator and operator reported their 3rd Quarter results for 2021 earlier this week. In a prepared statement, company CEO Joe Redling stated, “The third quarter continued to build on the positive performance trends of the past year and half, with top-line revenue growth of 13.2% and 19.2% for the…
Read MoreFrom my point of view, the new management and leadership team at StoneMor, Inc. has been executing with all the right decisions to get the Pennsylvania funeral home and cemetery based operator moving forward in a profitable direction. They have made tough decisions in contracting out cemetery labor, removing it from a direct employee relationship…
Read MoreAccording to this article and also verified on E-Trade, Axar Capital Management L.P. purchased 3,925,660 shares of StoneMor Partners L.P. stock on Wednesday, October 30, at an average share price of $1.00 per share. That share price indicated the 52-week low for the stock which had traded as high as $5.01 just over a…
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