StoneMor Inc., a leading owner and operator of cemeteries and funeral homes, announced on Nov. 3, 2022, that it completed its merger with Axar Cemetery Parent Corp. , an indirect wholly-owned subsidiary of Axar Capital Management, LP and Axar Cemetery Merger Corp., a Delaware corporation. As a result, StoneMor is now a wholly-owned subsidiary of Axar Cemetery Parent Corp.
As a result of the merger, each outstanding share of StoneMor’s common stock, other than Axar Shares and shares of common stock held by the company, was cancelled and converted into the right to receive $3.50 in cash per share, without interest.
StoneMor’s common stock has been delisted, and the company announced that it intends to file with the Securities and Exchange Commission a notice on Form 15 of termination of registration of the common stock, and suspension of the company’s reporting obligations, under the Exchange Act.
StoneMor Inc., headquartered in Bensalem, Pennsylvania, owns and operates cemeteries and funeral homes in the United States, with 302 cemeteries and 74 funeral homes in 23 states and Puerto Rico.