Monday, February 16, 2009

Ibis makes shutdown official

By Mass High Tech staff

After stockholders voted earlier this month to shut the company down, Ibis Technology Corp. reports that it is officially no longer an operating company in the eyes of the state as of today.

Danvers-based Ibis, a maker of implantation equipment for the semiconductor industry, filed to dissolve as Articles of Dissolution with the Secretary of the Commonwealth of Massachusetts. As of Feb. 23, Ibis will close its stock transfer books and stop transfers of shares of its common stock, except for transfers by will, intestate succession or operation of law, according to officials.

After being delisted from the Nasdaq market in August, the company’s stock has been trading on the Pink Sheets.

Ibis’ board of directors has voted to hold a distribution of seven cents per share on each outstanding share of the company’s common stock to all stockholders of record as of the close of business on Feb. 23.

In February of 2008, Ibis had enlisted investment bank BlueLake Partners LLC to determine the future of Ibis, including a potential sale of the company or its assets, but no buyer came forward. As of August, Ibis had about 30 workers employed.