Fenix Parts Inc., a recycler and reseller of OEM automotive products, has announced that Fenix Parts’ stockholders have approved the previously announced merger agreement with an affiliate of Stellex Capital Management LP at a special meeting of stockholders held earlier today.

Approximately 92 percent of voting Fenix Parts stockholders cast their votes in favor of the merger, representing approximately 63 percent of Fenix Parts’ outstanding common stock as of the record date for the special stockholder meeting.

Upon completion of the transaction, Fenix Parts stockholders will receive an amount in cash equal to 40 cents per share of Fenix Parts common stock. The transaction remains subject to customary closing conditions and is expected to close this month, at which time Fenix Parts will become a private company and its common stock will no longer trade on the OTC Pink operated by the OTC Markets Group Inc.