ESM Management, LLC/Newton Opportunity Fund Announces Extension of Expiration Time for Tender Offer for Certain Notes of MASTR Adjustable Rate Mortgages Trust 2007-3
The terms and conditions of the Offers are described in an offer to purchase, dated June 23, 2020 (the Offer to Purchase).
ESM Management, LLC via their Newton Opportunity Fund, L.P. announced today that it has extended the expiration time of its previously announced cash tender offer to purchase all of MASTR Adjustable Rate Mortgages Trust 2007-3’s outstanding Group 1 Class 1A3, Group 1 Class 1M1, Group 1 Class 1M2, Group 1 Class 1M3, Group 1 Class 1M4 and Group 1 Class 1M5 (collectively, the “Notes”), each series due May 25, 2047 (the “Offers”), from 5:00 p.m., New York City time, on Friday, July 31, 2020 to 5:00 p.m., New York City time, on August 31, 2020, unless further extended. The terms and conditions of the Offers are described in an offer to purchase, dated June 23, 2020 (the “Offer to Purchase”).
The new settlement date for the Notes tendered will be September 4, 2020. Holders of Notes who previously tendered their Notes do not need to retender such Notes or take any other action in response to this announcement in order to receive the applicable tender offer consideration. Holders are urged to read the Offer to Purchase carefully. Except as described in this press release, all terms and conditions of the Offers as described in the Offer to Purchase remain unchanged. Newton Opportunity Fund may, in its sole discretion, terminate, extend or amend the Offers at any time as described in the Offer to Purchase.
Requests for copies of the Offer to Purchase and other related materials and persons with questions regarding the Offers should contact Laurel Hill Advisory Group LLC at (toll-free) (888) 742-1305 or email: [email protected].
None of Newton Opportunity Fund or its affiliates, its board of directors, the dealer manager, the billing and delivering party and the information agent makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes.
About ESM Management
ESM Management, LLC was founded in 2009. ESM is an Investment Management Company registered with the SEC that specializes in fixed income products with a focus on Non-agency residential mortgage backed securities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of the Notes or any other securities in any state in which such offer, solicitation or sale would be unlawful. The Offers are made only through the use of the Offer to Purchase. The Offers are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Offers are required to be made by a licensed broker or dealer, the Offers will be deemed to be made on behalf of Newton Opportunity Fund by the dealer manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
Forward-Looking Information
This press release contains forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “would,” or the negative of such terms or other comparable terminology, although not all forward-looking statements contain these identifying words. We believe that the forward-looking statements are based upon reasonable assumptions and expectations. However, you are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Any forward-looking statements that we make in this press release speak only as of the date of this press release. We assume no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
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