TREVOSE, Pa., Dec. 31, 2019 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (NYSE: STON) and StoneMor GP, LLC announced the completion of the previously announced conversion of GP from a Delaware limited liability company into a Delaware corporation named StoneMor Inc. 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. 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. 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.

The Company Shares will begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “STON” when the market opens on January 2, 2020. In addition, StoneMor Partners L.P.’s common units will no longer trade on the NYSE.

Effective upon the closing of the Merger, the current members of the GP Board joined the Board of Directors of the Company. Biographical information and Board committee composition details are available at www.StoneMor.com.

About StoneMor Partners L.P.

StoneMor Partners L.P., headquartered in Trevose, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 321 cemeteries and 89 funeral homes in 27 states and Puerto Rico.

StoneMor is the only publicly traded death care company structured as a partnership. StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. For additional information about StoneMor Partners L.P., please visit StoneMor’s website, and the investors section, at http://www.stonemor.com.