Burbank, CA and New York, NY, April 1, 2015 —Building on its strategy of delivering quality branded content to people around the world, FW Books (NYSE:FWB) has agreed to acquire Rolled Spine Podcasts, Inc. (NYSE:#MSHP) in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of FW Books on August 28, 2014, Rolled Spine shareholders would receive a total of $0.00000076 per share in cash plus approximately 0.745 FW Books shares for each Rolled Spine share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the FW Books stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
FW Books, publisher of such titles as Hey Kids, Comics!: True-Life Tales From The Spinner Rack, will absorb Rolled Spine Podcasts' inventory of recycled audio files and bellicose opinions. The current group of on air talent has been released from their contracts and will be temporarily replaced by the "popular" personalities Rob Kelly & The Irredeemable Shag until more appropriate, listener-friendly permanent hosts can be hired.
Based on the closing price of Disney stock on Friday, March 27, the transaction value is $1.81 Dollars Canadian. Investors in Rolled Spine Podcasts are advised to take stock of their lives.