RESTON, Va., Nov. 17, 2015 (GLOBE NEWSWIRE) -- Global Defense & National Security Systems Inc. (NASDAQ:GDEF) ("GDEF" or the "Company"), a special purpose acquisition company focused on the U.S. defense and national security sector, today announced that at a Special Stockholder Meeting held on 13 November 2015 its stockholders approved the previously announced business combination with STG Group, Inc. ("STG"), a leading provider of cyber, software and intelligence solutions to the U.S. government, as well as the other matters presented at the special meeting for stockholder approval. The Company and STG are now working towards closing.
In connection with the special meeting, holders of approximately 2,109,904 shares of common stock issued in the Company's initial public offering requested redemption, which will be effected in connection with closing the transaction with STG.
Global Defense & National Security Systems, Inc. (Nasdaq:GDEF) is a public company formed to acquire operating business in the U.S. defense and national security sectors. GDEF was established in 2013 by the leadership of Global Strategies Group (GLOBAL), an international defense and national security company operating and investing in the sector since 1998. GDEF was established as part of the GLOBAL mission to build technology businesses operating at the nexus of U.S. defense and national security priorities.
Forward Looking Statements
This presentation contains forward-looking statements that involve risks and uncertainties concerning the proposed business combination between GDEF and STG, STG's expected financial performance, as well as STG's strategic and operational plans. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Terms such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Actual events or results may differ materially from those described in this written communication due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, the possibility that the transaction will not close or that the closing may be delayed; the reaction of customers to the combination; general economic conditions; the possibility that conditions to the closing of the transaction may not be satisfied; the transaction may involve unexpected costs, liabilities or delays; the outcome of any legal proceedings related to the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement.. In addition, please refer to the "Risk Factors" in documents that GDEF filed with the SEC on Forms 10-K, 10-Q and 8-K, as well as in GDEF's definitive proxy statement on Schedule 14A filed with the SEC on October 22, 2015. The filings by GDEF identify and address other important factors that could cause its financial and operational results to differ materially from those contained in the forward-looking statements set forth in this written communication. GDEF is under no duty to update any of the forward-looking statements after the date of this written communication to conform to actual results.
CONTACT: Joele Frank, Wilkinson Brimmer Katcher Jamie Moser / Leigh Parrish 212-355-4449
Source:Global Defense & National Security Systems, Inc.