WEST MELBOURNE, FL / ACCESSWIRE / March 11, 2019 / BK Technologies, Inc. (NYSE American: BKTI) today announced
that its Board of Directors has approved the implementation of a holding company reorganization, which is expected to be completed
on or around March 28, 2019. The reorganization will create a new holding company, BK Technologies Corporation, that will become
the new parent company of BK Technologies, Inc.
The holding company reorganization is intended to create a more efficient corporate structure and increase operational
flexibility, and is not being implemented in connection with any particular corporate transaction. No material operational or
financial impacts are expected.
The holding company reorganization will be effected through a merger transaction among the Company and certain of its
subsidiaries that is intended to be a tax-free transaction for U.S. federal income tax purposes for the Company's stockholders. No
stockholder vote of the Company will be required to effect the merger transaction.
In the holding company reorganization, the Company's current stockholders will automatically become stockholders of BK
Technologies Corporation, on a one-for-one basis, with the same number of share and same ownership percentage of the Company's
common stock that they held immediately prior to the holding company reorganization. Following the reorganization, BK Technologies
Corporation will replace BK Technologies, Inc. as the publicly traded entity and shares of BK Technologies Corporation will be
listed on the NYSE American under the symbol "BKTI," which is the same symbol currently used for the Company's common stock. In
addition, the common stock of BK Technologies Corporation will be assigned a new CUSIP Number: 05587G 104.
The holding company will have the same directors and executive officers as the Company.
About BK Technologies
As an American manufacturer for over 70 years, the Company is deeply rooted in the public safety communications industry,
manufacturing high-specification communications equipment of unsurpassed reliability and value for use by public safety
professionals and government agencies. Advances include a broad new line of leading digital two-way radios compliant with APCO
Project 25 specifications. The Company's products are manufactured and distributed worldwide under BK Radio and RELM brand names.
The Company maintains its headquarters in West Melbourne, Florida, and can be contacted through its web site at www.bktechnologies.com or directly at 1-800-821-2900.
Forward-Looking Statements
This press release contains statements about future events and expectations which are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements about the Company's plans, objectives,expectations and prospects. These statements can be identified
by forward-looking words such as "may," "might," "could," "would," "will," "anticipate," "believe," "plan," "estimate," "project,"
"expect," "intend," "seek" and other similar expressions. Any statement contained in this press release that is not a statement of
historical fact may be deemed to be a forward-looking statement such as statements regarding the Company's plans to implement a
holding company structure. Although the Company believes that the plans, objectives, expectations and prospects reflected in or
suggested by its forward-looking statements are reasonable, those statements involve risks, uncertainties and other factors that
may cause the Company's actual results, performance or achievements to be materially different from any future results, performance
or achievements expressed or implied by these forward-looking statements, and the Company can give no assurance that its plans,
objectives, expectations and prospects will be achieved. Important factors that might impact the Company's plans,
objectives, expectations and prospects are contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2018, and in the Company's other current and periodic reports filed from time to time with
theSecurities and Exchange Commission. All forward-looking statements in this press release are made as of the date hereof, based
on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking
statement.
Company Contact:
BK Technologies, Inc.
Timothy Vitou, President
(321) 984-1414
SOURCE: BK Technologies, Inc.
