SYCAMORE NETWORKS, INC. (OTCMKTS:SCMR) Files An 8-K Other Events
Final Liquidating Distribution
On November21, 2016, Sycamore Networks, Inc. (the Company) paid
the previously reported final liquidating distribution of $0.2261
in cash per share of the Companys common stock, par value $0.001
per share (the Common Stock), or approximately $6,530,214 in the
aggregate, to holders of record of Common Stock as of November12,
2016 (Record Stockholders) in complete cancellation of all of the
outstanding shares of Common Stock. A copy of the letter sent by
the Company to the Record Stockholders in connection with the
final liquidating distribution is filed as Exhibit 99.1 hereto.
Cessation of Corporate Existence
As previously reported, the Company filed a certificate of
dissolution with the Secretary of State of the State of Delaware
on March7, 2013. On February25, 2016, the Delaware Court of
Chancery granted the Companys petition to extend the Companys
corporate existence for an additional period of up to two years,
ending on March7, 2018, or such shorter period as the Companys
Board of Directors (the Board) deems necessary, in order to
permit the Company to make a final determination with respect to
the Companys remaining non-cash assets.
Also as previously reported, on November2, 2016, following the
disposition of the Companys remaining non-cash assets, the Board
adopted a resolution providing that the Companys affairs shall be
deemed to have been wound up as of the close of business on
to an Order Discontinuing Corporate Existence entered by the
Delaware Court of Chancery on November22, 2016, the Company
completed the winding-up of its affairs and its corporate
existence ceased for all purposes in accordance with the Delaware
General Corporation Law, in each case, as of the close of
business on November23, 2016.
For additional information relating to the cessation of the
Companys corporate existence, please see the Current Report on
Form 8-K filed by the Company on November2, 2016.
|Item9.01:||Financial Statements and Exhibits|
|99.1||Letter to Stockholders of Sycamore Networks, Inc.|
About SYCAMORE NETWORKS, INC. (OTCMKTS:SCMR)
Sycamore Networks, Inc. was engaged in the development and marketing of intelligent bandwidth management solutions. The Company provided intelligent bandwidth management solutions for fixed line and mobile network operators across the world and also provided services associated with such products (the Intelligent Bandwidth Management Business). The Company has also developed and marketed a mobile broadband optimization solution (the IQstream Business). As of July 31, 2016, the Company had not generated any revenues. SYCAMORE NETWORKS, INC. (OTCMKTS:SCMR) Recent Trading Information
SYCAMORE NETWORKS, INC. (OTCMKTS:SCMR) closed its last trading session at 0.225 with 2,111 shares trading hands.