Stonemor announces receipt of "going private" proposal

Stonemor inc. announces receipt of “going private” proposal, formation of special committee and update on equity financings.stonemor partners lp - board received an unsolicited proposal letter dated may 24, 2020, from axar capital management.stonemor partners lp - proposed "going-private" transaction was for $0.67 per share in cash.stonemor partners lp - axar currently owns approximately 52% of company's outstanding common stock.stonemor partners lp - proposed axar transaction would not be contingent on any financing.stonemor partners lp - proposed transaction would be funded with equity from axar and its affiliates.stonemor- axar affiliates agreed to purchase 23.3 million shares at $0.73 per share, under common stock purchase agreement.
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