StoneMor Partners

StoneMor, Inc. owns and manages cemeteries and funeral homes. It operates through the following segments: Cemetery Operations, Funeral Home Operations, and Corporate. The Cemetery Operations segment focuses on the sale of interment rights, cemetery merchandise, which includes markers, bases, vaults, caskets and cremation niches, and cemetery services. The Funeral Home Operations segment consists of funeral home merchandise, including caskets and other funeral-related items and service revenues, which include services such as family consultation, the removal of and preparation of remains and the use of funeral home facilities for visitation and prayer services. The company was founded on April 29, 2004 and is headquartered in Bensalem, PA.

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Everstory Partners develops safe, encouraging environments where people and families dealing with loss can find comfort, purpose, and hope. The company was founded in 1999 and is based in Bensalem, Pennsylvania.

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Where Do Hedge Funds Stand On StoneMor Inc. (STON)?

StoneMor Partners' (STON) CEO Joe Redling on Q3 2020 Results - Earnings Call Transcript

TREVOSE, Pa., Nov. 09, 2020 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) , a leading owner and operator of cemeteries and funeral homes, today announced it has signed a definitive agreement to sell the assets of its Oregon and Washington locations to Clearstone Memorial Partners, LLC (“Clearstone”) for a total cash purchase price of $6.2 million. The locations included in the transaction are Farnstorm Mortuary in Independence, Oregon, Fir Lawn Memorial Park and Mortuary in Hillsboro, Oregon, Forest Lawn Cemetery in Gresham, Oregon, Hillcrest Memorial Park, Crematory and Mortuary in Medford, Oregon, Keizer Funeral Chapel and Farnstorm Cremation Center in Keizer, Oregon, Memory Gardens Memorial Park and Memory Gardens Mortuary in Medford, Oregon, Peake Funeral Chapel in Milwaukie, Oregon, Restlawn Memory Gardens, Mausoleum and Restlawn Funeral Home in Salem, Oregon, Roseburg Memorial Cemetery in Roseburg, Oregon, Valley View Cemetery in Sutherlin, Oregon, Wilson's Chapel of Roses and Roseburg Cemetery in Roseburg, Oregon, Care Cremation Service in Clackamas, Oregon, Marysville Cemetery in Marysville, Washington and Oakwood Hill Cemetery and Funeral Chapel in Tacoma, Washington.

StoneMor Inc. Announces Exit of West Coast With Agreement to Sell All Assets in Oregon and Washington; Announces Completion of Sale of Remaining California Locations

TREVOSE, Pa., Oct. 29, 2020 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) , a leading owner and operator of cemeteries and funeral homes, today announced it expects to release 2020 third quarter financial results on Thursday, November 12, 2020 after the market closes. In connection with this announcement, StoneMor plans to hold a conference call to discuss its results later that day at 4:30 p.m. eastern time.

Stonemor Inc. Announces Date of Conference Call and Webcast to Discuss 2020 Third Quarter Financial Results

TREVOSE, Pa., Sept.  08, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) (“StoneMor”  or the  “Company”) , a leading owner and operator of cemeteries and funeral homes, announced today that Axar Capital Management, LP (“ Axar ”), after determining that it will not be able to reach an agreement with the Special Committee on terms that would be satisfactory to Axar, has withdrawn its proposal to acquire all of the outstanding shares of common stock of the Company not owned by Axar or its affiliates. A copy of the letter from Axar withdrawing its proposal is attached hereto as Annex A.

StoneMor Inc. Announces Withdrawal of Axar Proposal, Proposed Amendments to Charter to Be Considered by Its Stockholders and Election of Kevin D.

StoneMor Partners L.P. (STON) CEO Joe Redling on Q2 2020 Results - Earnings Call Transcript

TREVOSE, Pa., July  31, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) (“StoneMor”  or the  “Company”) , a leading owner and operator of cemeteries and funeral homes, announced today that the Special Committee (the “ Special Committee ”) of its board of directors (the “ Board ”) has received an amended proposal (the “ Amended Proposal ”), from Axar Capital Management, LP (“ Axar ”) proposing to acquire all of the outstanding shares of common stock of the Company not owned by Axar or its affiliates for $0.80 per share in cash, subject to certain conditions. The key terms of the Amended Proposal were set forth in a letter dated July 28, 2020, a copy of which is attached hereto as Annex A.

StoneMor Inc. Announces Receipt of Amended “Going Private” Proposal

TREVOSE, Pa., July  29, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) (“StoneMor”)  today announced that the 2020 Annual Meeting of Stockholders (the “ Annual Meeting ”) will be held on Thursday, November 5, 2020 at 4:00 p.m.  The record date for stockholders entitled to notice of and to vote at the Annual Meeting will be the close of business on Monday, September 14, 2020.  The Annual Meeting will be held by remote communication, and information regarding the manner in which stockholders will be able to access, participate in and vote at the Annual Meeting will be set forth in the Company’s proxy statement.

StoneMor Inc. Announces Annual Stockholders Meeting Date

TREVOSE, Pa., July  29, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) , a leading owner and operator of cemeteries and funeral homes, today announced it expects to release 2020 second quarter financial results on Thursday, August 13, 2020 after the market closes. In connection with this announcement, StoneMor plans to hold a conference call to discuss its results later that day at 4:30 p.m. eastern time.

StoneMor Inc. Announces Date of Conference Call and Webcast to Discuss 2020 Second Quarter Financial Results

Rejects Price of $0.67 Per Share Rejects Price of $0.67 Per Share

StoneMor Inc. Announces Response of Special Committee to Axar Proposal

TREVOSE, Pa., June  09, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) (“StoneMor”)  today announced the commencement of an exchange offer for all of the outstanding 9.875%/11.500% Senior Secured PIK Toggle Notes due 2024 (the “Old Notes”) issued by StoneMor Partners L.P. and Cornerstone Family Services of West Virginia Subsidiary, Inc. (together the “ Issuers ”) for an equal principal amount of new 9.875%/11.500% Senior Secured PIK Toggle Notes due 2024 (the “ New Notes ”) issued by the Issuers that have been registered under the Securities Act of 1933, as amended (the “ Securities Act ”).  StoneMor is the sole general partner of StoneMor Partners L.P. and Cornerstone Family Services of West Virginia Subsidiary, Inc. is a wholly-owned subsidiary of StoneMor Partners L.P.  The exchange offer commenced on June 9, 2020, and will expire at 5:00 p.m. New York City time, on July 8, 2020.

StoneMor Inc. Commences Registered Exchange Offer for Its 9.875%/11.500% Senior Secured PIK Toggle Notes Due 2024

TREVOSE, Pa., May  27, 2020  (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) (“StoneMor” or the “Company”) , a leading owner and operator of cemeteries and funeral homes, announced today that its board of directors (the “ Board ”) has received an unsolicited proposal letter (the “ Proposal ”), dated May 24, 2020, from Axar Capital Management, LP (“ Axar ”) proposing to acquire all of the outstanding shares of common stock of the Company not owned by Axar or its affiliates in a “going-private” transaction for $0.67 per share in cash, subject to certain conditions. According to the Proposal, the $0.67 per share price represents a premium of approximately 17% to 50-day moving average share price as of the market close on May 22, 2020.

StoneMor Inc. Announces Receipt of “Going Private” Proposal, Formation of Special Committee and Update On Equity Financings

StoneMor Partners L.P.'s (STON) CEO Joe Redling on Q1 2020 Results - Earnings Call Transcript

TREVOSE, Pa., April  20, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) (“StoneMor” or the “Company”) , a leading owner and operator of cemeteries and funeral homes, announced today that it received notification from the New York Stock Exchange ("NYSE") on April 14, 2020 that the Company is no longer in compliance with the NYSE continued listing criteria that requires listed companies to maintain an average closing share price of at least $1.00 over a consecutive 30 trading-day period. The Company is in compliance with all other NYSE continued listing standard rules.

StoneMor Inc. Addresses NYSE Listing Standards

TREVOSE, Pa., April  10, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) , a leading owner and operator of cemeteries and funeral homes, today announced it has completed the previously announced sale of the assets of Olivet Memorial Park, Olivet Funeral and Cremation Services and Olivet Memorial Park and Crematory (“Olivet”) located in Colma, California, to Cypress Lawn Cemetery Association for a total net purchase price of $41.4 million – $24.3 million in cash, subject to certain additional adjustments, plus $17.1 million in assumption of lot takedown obligations. 

STONEMOR INC. COMPLETES SALE OF OLIVET MEMORIAL PARK IN COLMA, CALIFORNIA

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TREVOSE, Pa., April  02, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) , a leading owner and operator of cemeteries and funeral homes, today announced it has entered into a multi-year Master Services Agreement (“MSA”) with Moon Landscaping (“Moon”) to develop, implement and provide all manner of property management and operational services at most of the funeral homes, cemeteries and other properties owned or managed by StoneMor.

STONEMOR INC. ANNOUNCES STRATEGIC MULTI-YEAR PROPERTY MANAGEMENT AND OPERATIONAL SERVICES AGREEMENT WITH MOON LANDSCAPING

TREVOSE, Pa., March  19, 2020  (GLOBE NEWSWIRE) --  StoneMor Inc. (NYSE: STON) , a leading owner and operator of cemeteries and funeral homes, today announced it has signed a definitive agreement to sell the assets of Olivet Memorial Park, Olivet Funeral and Cremation Services and Olivet Memorial Park and Crematory (“Olivet”) located in Colma, California, to Cypress Lawn Cemetery Association for a total purchase price of $42.1 million - $25 million in cash plus $17.1 million in assumption of lot takedown obligations, subject to certain adjustments and credits. 

STONEMOR INC. ANNOUNCES SALE OF ALL ASSETS IN CALIFORNIA FOR $49.2 MILLION

TREVOSE, Pa., Dec.  31, 2019  (GLOBE NEWSWIRE) --  StoneMor Partners L.P. (NYSE: STON) (“StoneMor” or the “Partnership”)  and StoneMor GP, LLC (" GP ") today announced the completion of the previously announced conversion of GP from a Delaware limited liability company into a Delaware corporation named StoneMor Inc. (the “ Company ” when referring to StoneMor Inc. subsequent to such conversion) and the merger of a wholly owned subsidiary of GP with and into the Partnership, with the Partnership continuing as the surviving entity and a subsidiary of the Company (the “ Merger ”). At the effective time of the Merger, each Partnership common unit and preferred unit was converted into the right to receive one share of common stock, par value $0.01 per share of the Company (the “ Company Shares ”). Based on the Partnership common units and preferred units outstanding, the Company issued approximately 94.4 million Company Shares to Partnership unitholders in connection with the Merger.

StoneMor Partners L.P. Completes C-Corporation Conversion

TREVOSE, Pa., Dec.  20, 2019  (GLOBE NEWSWIRE) --  StoneMor Partners L.P. (NYSE: STON) (“StoneMor” or the “Partnership”)  a leading owner and operator of cemeteries and funeral homes, today announced that at a special meeting of the Partnership's unitholders held earlier today, the Partnership's unitholders voted to approve and adopt the Merger and Reorganization Agreement dated September 27, 2018, as amended to date (the “ Merger Agreement ”), pursuant to which, among other things, StoneMor GP LLC will convert from a Delaware limited liability company into a Delaware corporation to be named StoneMor Inc. (the “ Company ” when referring to StoneMor Inc. subsequent to such conversion), Merger Sub will be merged with and into the Partnership and the Partnership will become a wholly-owned subsidiary of the Company (the “ Merger ”) and the holders of common units and Series A Covertible Preferred Units (and together with our common units, the “ units ”) of the Partnership, each representing limited partner interests in the Partnership, will become stockholders in the Company.

StoneMor Partners L.P. Unitholders Approve C-Corporation Conversion

TREVOSE, Pa., Dec.  04, 2019  (GLOBE NEWSWIRE) --  StoneMor Partners L.P. (NYSE: STON) (“StoneMor” or the “Partnership”) , a leading owner and operator of cemeteries and funeral homes, today announced it has signed a definitive agreement to sell the assets of Oakmont Memorial Park & Mortuary (“Oakmont”) located in Lafayette, California, to Carriage Services, Inc. for a total purchase price of $33 million in cash, subject to customary working capital adjustments.

StoneMor Partners L.P. Announces Agreement to Sell Oakmont Memorial Park & Mortuary to Carriage Services, Inc.

StoneMor Partners L.P.'s (STON) CEO Joe Redling on Q3 2019 Results - Earnings Call Transcript

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TREVOSE, Pa., Oct.  25, 2019  (GLOBE NEWSWIRE) --  StoneMor Partners L.P. (NYSE: STON) (“StoneMor” or the “Partnership”)  a leading owner and operator of cemeteries and funeral homes, today announced that the special meeting of the Partnership unitholders will be held at the Courtyard Philadelphia Bensalem, 3280 Tillman Road, Bensalem, PA 19020, on December 20, 2019 at 10:00 a.m. Eastern Time. All Partnership common units and Series A Convertible Preferred Units (together with our common units, the “ units ”) of record as of the close of business on November 4, 2019, which is the record date for the special meeting, will be entitled to vote their units.

StoneMor Partners L.P. Announces the Record Date  of Special Meeting

TREVOSE, PA., Sept.  25, 2019  (GLOBE NEWSWIRE) --  StoneMor Partners L.P. (NYSE: STON) (“StoneMor” or the “Partnership”) , a leading owner and operator of cemeteries and funeral homes, is distributing to its holders of common units as of 5:00 p.m. New York City time on September 26, 2019 (the “Record Date”), one non-transferable subscription right for each common unit held by qualified unitholders of record on the Record Date. Each right will entitle the holder to purchase 1.24 common units for each common unit held by the unitholder as of the Record Date. The subscription price will equal the $1.20 per common unit. The Registration Statement on Form S-1 respecting the Rights Offering was declared effective by the Securities and Exchange Commission on Wednesday, September 25, 2019. The subscription rights will expire if they are not exercised by 5:00 p.m. New York City time on October 25, 2019. The Partnership may, at its sole discretion, extend the rights offering for a period not to exceed 30 days. All exercises of subscription rights are irrevocable.

News for StoneMor Partners Stock (STON)