Fenix Parts stockholders approve merger with Stellex Capital Management

Fenix Parts Inc. said that its stockholders approved the previously announced merger agreement with an affiliate of Stellex Capital Management LP.

Approximately 92 percent of voting Fenix Parts stockholders cast their votes in favor of the merger, representing approximately 63 percent of Fenix Parts' outstanding common stock as of the record date for the special stockholder meeting.

Upon completion of the transaction, Fenix Parts stockholders will receive an amount in cash equal to $0.40 per share of Fenix Parts common stock. The transaction remains subject to customary closing conditions and is expected to close this month, at which time Fenix Parts will become a private company and its common stock will no longer trade on the OTC Pink operated by the OTC Markets Group Inc.

Fenix Parts Inc. is a recycler and reseller of original equipment manufacturer automotive products. The company's primary business is auto recycling, which is the recovery and resale of OEM parts, components and systems reclaimed from damaged, totaled or low value vehicles. Customers include collision repair shops, mechanical repair shops, auto dealerships and individual retail customers.