Merger Notification - Share Consideration

NORWICH, Conn. - Sept. 25, 2024 - PRLog -- On September 9, 2024, inc.jet Holding, Inc. f/k/a Gunther International Ltd. (the "Company") entered into a merger agreement pursuant to which the Company will be merged with and into Norwix, Inc., a wholly owned subsidiary of the Company, with Norwix, Inc. being the surviving corporation.  The transaction is currently anticipated to close on or around September 30, 2024.

In connection with the Merger, shares of Company common stock will be removed from the OTC Pink Market.  As a result of the Merger, the outstanding shares of common stock of the Company  will be canceled and converted into the right to receive $1.00 per share ("Merger Consideration").

The twelve month trailing price of the Company's stock as of August 31, 2024 was $0.60 with very limited trading activity. To assist the board of directors of the Company with determining a fair price for the shares of Company common stock pursuant to the Merger, the Company engaged a national accounting firm to prepare an independent valuation. Pursuant to a report dated July 23, 2024, and based upon and subject to the factors, limitations, qualifications and assumptions set forth therein, such firm concluded that the fair value of the Company's common stock was $0.85 per share as of May 31, 2024. Based in part on this report, the Board determined that the Merger Consideration was fair to the Company's stockholders.