Originally published August 4, 2008 at 12:00 AM | Page modified August 4, 2008 at 8:53 PM
PrintPyramid Breweries sells 85% of shares to Magic Hat
Pyramid Breweries sold 85 percent of its shares Friday night to Magic Hat Brewing Co. & Performing Arts Center of Vermont, the Seattle...
Seattle Times business reporter
Pyramid Breweries sold 85 percent of its shares Friday night to Magic Hat Brewing Co. & Performing Arts Center of Vermont, the Seattle brewery said in a filing today.
Magic Hat's parent company paid $2.75 in cash for each share of Pyramid, which last traded at $2.73 on Friday. It will buy the remaining shares at the same price per share, and the company will no longer be traded on Nasdaq, Pyramid's filing said.
It is not clear when the remaining shares will be sold.
Nasdaq halted trading of Pyramid's stock this morning, waiting for "additional information requested" from the company.
Melissa Allison: 206-464-3312 or mallison@seattletimes.com
Copyright © 2008 The Seattle Times Company
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