ST. LOUIS, Sept. 23, 2014 (GLOBE NEWSWIRE) -- Quinpario Partners I, LLC today announced it has distributed on a pro rata basis for no consideration all of its shares and warrants to purchase shares of common stock in Jason Industries, Inc. (Nasdaq:JASN) (Nasdaq:JASNW) to its members. The members include (i) entities controlled by Jeffry N. Quinn, Chairman of Jason Industries, Inc. (the "Company") (ii) certain current directors of the Company and (iii) certain former officers and directors of the Company. As a result of the distribution and as reported in a Schedule 13D filed with the Securities Exchange Commission, Mr. Quinn now directly and indirectly owns an aggregate of 4,451,066 shares of common stock of the Company (which includes 532,551 warrants to purchase shares). This constitutes beneficial ownership of 19.8 percent of the common stock of the Company. The shares of common stock distributed to the members of Quinpario Partners I, LLC are subject to the same lock-up restrictions as Quinpario Partners I, LLC was subject to.
About Quinpario Partners I, LLC
Quinpario Partners I, LLC is an extension of Quinpario Partners, LLC. Quinpario is a privately owned investment, operating and management firm focused on the specialty chemicals and performance materials industries. The partners leverage their global operational experience and deep industry knowledge to deploy its capital and resources to co-invest with other investors to exploit opportunities in its targeted industries. For more information, please visit www.quinpario.com.
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