-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PZUvXmdf1CYUypyr8g2fkC4O+oA5OnsL/Kb6ywYO3REp/Jlyv93+oHLxPOiVFEM/ /WPDAF9MTnhAGLGKfcmD6A== 0001144204-09-051876.txt : 20091007 0001144204-09-051876.hdr.sgml : 20091007 20091007135733 ACCESSION NUMBER: 0001144204-09-051876 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090930 ITEM INFORMATION: Completion of Acquisition or Disposition of Assets ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091007 DATE AS OF CHANGE: 20091007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MMC ENERGY, INC. CENTRAL INDEX KEY: 0001312206 STANDARD INDUSTRIAL CLASSIFICATION: COGENERATION SERVICES & SMALL POWER PRODUCERS [4991] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33564 FILM NUMBER: 091109856 BUSINESS ADDRESS: STREET 1: 26 BROADWAY, STREET 2: SUITE 907 CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: (212) 977-0900 MAIL ADDRESS: STREET 1: 26 BROADWAY, STREET 2: SUITE 907 CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: High Tide Ventures, Inc. DATE OF NAME CHANGE: 20041221 8-K 1 v162300_8-k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934


Date of Report (Date of earliest event reported): September 30, 2009

MMC ENERGY, INC.
(Exact name of registrant as specified in its charter)

Delaware
000-51968
98-0493819
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)


26 Broadway, Suite 960
New York, NY
 
10004
(Address of Principal Executive Offices)
(Zip Code)

(212) 977-0900
(Registrant's telephone number, including area code)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 

 
 
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS

As previously disclosed, on August 10, 2009, MMC Energy, Inc.’s (“MMC” or the “Company”) wholly-owned subsidiary, MMC Chula Vista II, LLC, entered into a definitive agreement with Energy Parts Solutions, LLC, an affiliate of Pro Energy, Services, Inc., to sell its two remaining General Electric LM6000PC Sprint® turbines in an all-cash transaction for an aggregate purchase price of $26.65 million (the “Turbine Sale”). The Turbine Sale was completed on October 5, 2009, and the Company then received actual cash proceeds of $23.38 million net of the $3 million deposit received upon signing and transaction costs.
 
The Turbine Sale was part of a process to liquidate the Company’s remaining assets as contemplated by the Plan of Complete Liquidation and Dissolution of the Company (the “Plan of Liquidation”), which was overwhelmingly approved by the Company’s stockholders at a special meeting held on September 14, 2009.
 
A copy of the press release issued by the Company relating to the closing of the Turbine Sale is attached as Exhibit 99.1 to this current report and is incorporated herein by reference.
 

ITEM 8.01 OTHER EVENTS

On September 30, 2009, the Company filed its Certificate of Dissolution with the Secretary of State of the State of Delaware. The Certificate of Dissolution became effective at 1:29 p.m., eastern time on September 30, 2009 and provides for the dissolution of the Company under the Delaware General Corporate Law.
 
On October 6, 2009 the Company filed with the Securities and Exchange Commission and The NASDAQ Stock Market, Inc. a Form 25 relating to the delisting of the Company’s common stock (the “Common Stock”). Trading in the Common Stock ceased effective on the close of business of October 6, 2009, with official delisting of the Common Stock effective 10 days thereafter. In addition, the Company expects to close its stock transfer books and discontinue recording transfers of the Common Stock following the suspension of trading of the Common Stock.
 
 
On October 6, 2009, pursuant to the Plan of Liquidation, the board of directors of the Company approved an initial liquidating distribution of $1.35 per share to the stockholders of record of the Common Stock as of October 6, 2009. The Company funded its payment agent, Continental Stock, Transfer & Trust Company, on October 6, 2009 and expects that the distributions will reach beneficial owner accounts within 3-5 business days thereafter. Pursuant to the requirements of Delaware law, the Company intends to retain certain of the remaining assets of the Company to satisfy and make reasonable provision for any claims and obligations of the Company until such time as the Company’s board of directors determines that it is appropriate to distribute some or all of such remaining assets. The amount and timing of any subsequent and final distributions will be at the discretion of the Company’s board of directors.
 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

99.1   Press Release, dated October 6, 2009, issued by MMC Energy, Inc.
 
 
 

 
 
SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Date: October 7, 2009
MMC ENERGY, INC.
 
         
         
 
By:
/s/ Denis Gagnon
 
   
Name:
Denis Gagnon
 
   
Title:
Chief Financial Officer
 



 
 

 
EX-99.1 2 v162300_ex99-1.htm
 
  MMC ENERGY, INC.
  26 Broadway
  Suite 960
  New York, NY 10004
  (212) 977-0900
 
MMC ENERGY, INC. COMPLETES TURBINE SALE

New York- October 6, 2009-MMC Energy, Inc. (NASDAQ: MMCE) announced today that it has completed the sale of its two GE LM6000 PC Sprint turbines for $26.65 million to a subsidiary of Pro Energy.

The sale of the turbines was part of a process to liquidate the Company’s remaining assets as contemplated by the liquidation plan of the Company, which plan was overwhelmingly approved at a shareholders’ meeting held on September 14, 2009.  MMC Energy had previously announced the completion of the sale of its Chula Vista and Escondido electric generating facilities and certain other assets for $4,865,500 to affiliates of Wellhead Electric Company, Inc.

As previously announced, with the turbine sale completed, the Company will now make the first of at least two liquidating dividend payments to shareholders.  The Board of Directors today approved the amount of the first distribution to be $1.35 per share.  The Company expects to fund its payment agent, Continental Stock, Transfer & Trust Company, today and that the distributions will reach beneficial owner accounts within 3-5 business days.  Registered shareholders who hold paper share certificates directly will be required to turn in their shares with other required paperwork which will be mailed to them promptly along with detailed instructions.

The Company has also revised its range of expected aggregate distributions to be $1.45-$1.60 per share.

As previously announced, coincident with closing the turbine sale, we anticipate trading in our common stock will be permanently suspended by the NASDAQ Global Market, effective at the close of trading today.

About MMC Energy, Inc.:
 
The Company is currently liquidating its electricity generating and energy infrastructure-related assets in the United States. The Company is traded on the NASDAQ Global Market in the United States.
 
Forward Looking Statements:

This press release contains '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 including the amount of liquidation distribution proceeds ultimately available to the Company’s shareholders. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, those risks described in the Company's Annual Report on Form 10-K, its most recent prospectus filed with the SEC on November 19, 2007 and in its other public filings. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update these forward-looking statements.

Source: MMC Energy, Inc.
 
Contact:
 
          MMC Energy Inc.
          Denis G. Gagnon, Chief Financial Officer
          (212) 785-5478
          www.mmcenergy.com
 
 
 

 
GRAPHIC 3 logo.jpg GRAPHIC begin 644 logo.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0`617AI9@``24DJ``@```````````#_ MVP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+#!D2$P\4'1H?'AT:'!P@)"XG("(L M(QP<*#7J#A(6&AXB)BI*3E)66EYB9 MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+ M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1 MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15 M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W M^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`HHHH`****`"BBB@!,BC/->5_%CQ'K& MAW^EQZ7J$MHLL4C2",#YB"H&9/0YJF M*A"7*T?3%%?,_P#PL#Q;_P!!ZZ_)/\*/^%@>+?\`H/77Y+_A5_4)]T3]NOR7_"C_A8'BW_H/77Y+_A1]0GW0?7(=CZ8H'6OF?\`X6!XM_Z# MUUU]%_PKZ6CSAH M>*+6X8Z1I%A>VP4$&6[,;ENXQM(],T`YHK"\)^(4\3^'K?4A&(I&RDT0.?+<'!&:W1TK-II MV9HFFKH***0GBD,,T9KA_'OC]O"$EG;6UI'=74X9V1Y"H1!P#P#R3_(UAZ!\ M2O$_B6\>VTSPY9R-&`TCO=,JQ@],G;]?RK54)N//T,G6@IBGQ4@L!Y]1>'/AUX>\46\LFF M>);MS$0)(WM0KIGID$]_6O0I58TZ24CBJTY5*CY3S:BN^\;?#4^%-(CU&VOY M;R+S1','B"[,]#Q[\?B*X&NFG4C47-$YYPE3=I!1115DA15O2M-FUC5K73K? M_6W,@0''W1W/X#)_"O5)/@M800O++X@N%C12S,84P`.23S652O"F[29I"C.> MJ/'^:G=)!#G"YZN?11U)KSL_%'6O$%^]AX3 MT%I7'6:X.[:/4J,!?Q:N6%*<]4M#JG4C'1[GJ^ZES7FR'XK8WEM&)Z^61WQAC^5=WSZFHG%P=I%0DIJZ#''^->`?$'2)+KQ MKXAGM@H%I#'$E`X_,4;ZXQ^M?17A/7E\1^&K'4Q@221XF4=I!PP_.ML735U4 MCLS/#3:O3ET-TFH;J>.VMY+B5PD4:%W8]``,DU,3Q7G'Q=UJ:TT*VT:S4M=: MI)L"KU**1D?BS*/Q-3KA_B+PYX]GJK\1="B\-_#C0=+C(8PW0#L!]YS&Y8_G5OX M(?ZG7/\`KI#_`">N^I)2PS:V.&$6JZN4_CBY_YXR_S6JOP6=H]K(;#QCX34@;K+4;8<=U##^8/\J^;-7TRXT75[O3;L@S6TA1V`P']&'L M1S7J'P7\0;K>Y\/SM_JQ]HM^>JGAU_`\_C4/QIT=(KG3]:12#+FVF/J0,H?R MW?E48=NE5=-[,NLE5I\ZW1Y311T..]6-/L9]4U&WL+89FN)!&GL3W_#K7HMV M5V<*6MD>B_#738=&TN^\9:CS%$I@MD[L20"P^IPH_&O2?';%/`FLLO7[*WZ_ M_KKSCXE7L&F0Z'X0L,"WL_+DF`[D'"`_JWXBO1O'W_(A:S_U['^8KRJEY3C- M]6>E!*,)170^:>P^HKZD\0:W!X=\/W.JSH9$@0$(#@N3P!GW)%?+?I]17KOQ MGU=O*TS1HVPK#[3*,],TCGN M-CN&8G!*VT(/(`_+ZD\U[_HNBV6@Z9#I^GP".",?BQ[L3W)KS7X)Z:OV?5=4 M(_>.ZVZD]0`-Q_,D?E7K@Z5R8J?O\BV1U8:'N\[W8W;STJMJ%A;ZEI\UE=QB M2WF0I(I[@U+^%?#TW@_P"+L>GO)YD,]K*892,%TP",^XVXKV7_ M`(%69?Z%%?ZSI>IEVCFT]I"F`/G5U*E3[=#^%:O/I6E6?M&F]S.G3Y+I"UY] MHW_):/$/_8/B_FM>@GI7GVC?\EH\0_\`8/C_`)I13VEZ!/>/J4/C#X;6[TJ/ M78$_TBTQ'/C^*(G^A(_`FLCX-Z_Y5YTN%W0SQM&X]01@_P`Z^9)$O?!GBK:P)NM-N-P/3S`#P?\`@2Y_.NJ@_:TW M3ZG-67LZBJ'U"3Q_6O,]`:/QM\2;_69<-8:-B"R7LSDMEO?H3^(K9\9>+[:P M\`MJ=G*&;4(Q':\\Y83YIJ*,7XU_\BUIO_7Z/_1;U2^!_P#J=<_ZZ0_R>KOQL_Y%K3?^ MOW_VF]4O@?\`ZC7/^ND/\GKH7^Y_UW,7_O)3^-W_`"$]&_ZXR_\`H2U4^#/. MNZJ/^G''_CPJW\;_`/D)Z+_UQE_]"6JOP8_Y#VJ?]>7_`+.*UC_NO]=S*7^\ M_P!=CS_1=5N=%U&TU.T/[ZW8.%[,.Z_B,BOH[5;"Q\;^#RB,#%>0B:WD[H^, MJ?P/7\17S+'_`*M/]T5[7\&M;^TZ/=Z+*?GLV$L7/5')_DW_`*$*>+A[JJK= M!AI>\Z;ZGC$T,EM/+!,A2:)RDB'^%AP1^==W\,[>*PGU3Q3>*/L>EP,$)_BE M;L/^`\?5A4GQ;\/OI_B9-3@C9H=1_NC_`);``$?4C!_`U<\8P)X5^&FD^&V; M-]=R"XN5';'S-_X\54>N#5RJ*I",5]HB-/VGY-73-VK1^9SP7[J7R.N^#BJ/!3LH&YKN0G\A7H8Z5Y;\%+ MY7T/4;'/[R&X$N/]EA_BIKU(=*\K$)JK(].@[TT+1116)J%&*2B@`[5Y]HQ' M_"Z?$`SUT^/^:UU6I:O=64C1P:+?WA"Y#0[`I/IEF&/RKS73+?QG9>.KKQ)/ MX)/#5WIQ`\QUW0L M?X9!RO\`A^-%&?LZB85H^T@T>(^`=-E\1^*=-L+EVDL;`O<[#RJC<#C_`($V M,U]%+FN&^&'A.Y\-Z1/<:C#Y6HWC_O$)!*(O09''4D_C78W]W)96XD2SN+HE M@NR`#<,]^2.*K$S4Y^[L3AX.$+RW///C80?#6G8/_+[_`.TWJE\$.(-#[N[%SX< MN)K6[";S%*F]"N<$`GD?,>];Z?5N2^O_``3)_P`?FMH1?&[_`)">C?\`7&7_ M`-"6JOP8S_;VJB?:8SI@\J<$WO`X*'^#=UZ4?#R_\` M#7A&2[NK_P`16LUQ<(L82&*3:B@D]2O))([=JN]L-R]?^"0U>O?^MCRR/_5) M_NBNC\$:VV@^+;&[W8B=_)FR<#8Q`)_`X-)J>BZ1%[.%CEUA*Y]8W5I;7JQ"YB218I%F3=_"Z\AOPKY MI\7:VWB'Q1?:@3^[,AC@&>D:DA?SZ_C7:S_$I)/AF-/\UO[:9/LC\$?)T,F? M]WCZFO+CA1P.G05RX.BX-N1TXFJII)$L'_'Q#_UT7^=?2?C_`)\!ZUC_`)]F M_F*\/T32-%BU6WGU7Q'8):PR+(Z11R,SX.<XA`G@"K MD[U'0?4$C\:\#O\`2;.T21[?7;"]6,C8L:R*[#('0K@=?6OJ0`E0!P0!4XNI M9PDN@\-"ZDGY'S-X,\1/X:\207P7-N^8+B/.,H3S^*G!_"OIB">*>".:*17C MD4.C*N9T.'XA>"#L MBTJ:\L5/-MN$B?5=I)7]:FKRUUSQ=F73YJ+Y9;'N&0>A%(2,XR/6O/8/B)KL MORMX"U82>@?Y<_4H*6>Z\<^)2+./2X?#UC+Q-<23B6;9WV@`8)^GXUR^RDOB MT.CVBZ:ER75KGQ'XW72-.GDBT_26$][<0M_KI>BPY'0=2?I7:Y'J/RK-T'0K M+P]I46GV$6R&,+?&X?\3/1NO^IE_P#0EKRNO4_C@Z)J>B[G M5?W,O4^ZUY3YT7_/1/\`OH5[>$_@JQY.(O[5C\#TI:C\Z+_GHG_?5'G1?\]$ M_P"^JWU,20'@#THJ/SHO^>B?]]4>=%_ST3_OJC45A^!GI2U'YT7_`#T3_OJC MSHO^>B?]]4]0L//;TS7UTG0?05\A>=%Q^\3J/XJ^O(_NK_NUYN/?PG=@EN/Q M28IV**\\[QN*,?6G8HQ0`@%&*6B@`HHHH`****`"BBB@`HHHH`B*J[?,H..F M11Y4?_/-?R%%%`65P\J/_GFG_?(H\J/_`)YI_P!\BBBF.R#RH_\`GFG_`'R* M/*C_`.>:?]\BBB@+(/*C_P">:?\`?(H\J/\`YYI_WR***`L@,4>,^6G_`'R* 8
-----END PRIVACY-ENHANCED MESSAGE-----