Tender offer

Sallie Mae Announces Expiration and Results of Tender Offer for Certain Floating Rate Non-Cumulative Preferred Stock Series B

Wednesday, November 25, 2020 - 2:00pm

Sallie Mae (Nasdaq: SLM), formally SLM Corporation, announced today the expiration and results for its previously announced cash tender offer (the Offer) to purchase up to 2,000,000 shares (the Maximum Share Amount) of its Floating Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (the Securities).

Key Points: 
  • Sallie Mae (Nasdaq: SLM), formally SLM Corporation, announced today the expiration and results for its previously announced cash tender offer (the Offer) to purchase up to 2,000,000 shares (the Maximum Share Amount) of its Floating Rate Non-Cumulative Preferred Stock, Series B, par value $0.20 per share (the Securities).
  • The Offer expired on Nov. 24, 2020 at 11:59 p.m., New York City time (the Expiration Date).
  • Because the Total Tendered Amount is less than the Maximum Share Amount, the Company has accepted for purchase all such Securities tendered as of the Expiration Date.
  • The consideration for each Security tendered and accepted for purchase pursuant to the Offer will equal $45 plus an amount equal to Accrued Dividends.

Voya Prime Rate Trust Announces Intention to Conduct Tender Offer for its Common Shares

Monday, November 23, 2020 - 1:00pm

Voya Prime Rate Trust (NYSE: PPR) (the Fund), today announced its intention to commence a tender offer for 15% of its outstanding common shares.

Key Points: 
  • Voya Prime Rate Trust (NYSE: PPR) (the Fund), today announced its intention to commence a tender offer for 15% of its outstanding common shares.
  • The Fund expects to commence the tender offer in early December 2020, with the expiration of the tender offer currently anticipated to occur in January 2021.
  • Additional terms and conditions of the Funds tender offer will be set forth in the relevant tender offer materials, which will be distributed to the Funds common shareholders.
  • The offer to purchase Fund common shares will be made pursuant to an offer on Schedule TO.

Pioneer Floating Rate Trust Announces Commencement of Tender Offer

Monday, November 23, 2020 - 1:30pm

Pioneer Floating Rate Trust (NYSE: PHD) (the Fund) announced today that it has commenced a tender offer.

Key Points: 
  • Pioneer Floating Rate Trust (NYSE: PHD) (the Fund) announced today that it has commenced a tender offer.
  • Additional terms and conditions of the tender offer are set forth in the Fund's tender offer materials, which are being distributed to holders of Shares.
  • This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of the Fund and the above statements are not intended to constitute an offer to participate in any tender offer.
  • Shareholders of the Fund should read the offer to purchase and tender offer statement on Schedule TO and related exhibits, as they will contain important information about the tender offer.

LEGACY ACQUISITION CORP. ANNOUNCES FINAL RESULTS OF CASH TENDER OFFER FOR ITS CLASS A COMMON STOCK

Friday, November 20, 2020 - 1:45pm

The Tender Offer expired at 12:01 a.m. New York City time, on Thursday, November 19, 2020 (the Expiration Time).

Key Points: 
  • The Tender Offer expired at 12:01 a.m. New York City time, on Thursday, November 19, 2020 (the Expiration Time).
  • As of the Expiration Time, 5,153,781 or 84.1750% of the outstanding Public Shares had been validly tendered and not withdrawn in the Tender Offer.
  • Legacy will accept for purchase all of the Public Shares validly tendered and delivered in the Tender Offer at or prior to the Expiration Time.
  • Legacy raised $300 million in November2017 and its securities are listed on the New York Stock Exchange (NYSE).

Amerant Bancorp Inc. Commences Modified Dutch Auction Tender Offer to Repurchase up to $50.0 Million of its Class B Common Stock

Friday, November 20, 2020 - 1:00pm

Shareholders that do not wish to participate in the Tender Offer do not need to take any action.

Key Points: 
  • Shareholders that do not wish to participate in the Tender Offer do not need to take any action.
  • The Company is pursuing the Tender Offer as a means to provide value and increased liquidity to its shareholders.
  • A modified Dutch auction tender offer gives shareholders the opportunity to indicate how many shares of Class B Common Stock and at what price within the range described above they wish to tender their shares.
  • Amerant believes that a modified Dutch auction tender offer is an efficient mechanism that will provide shareholders with the opportunity to tender all or a portion of their shares of Class B Common Stock.

LEGACY ACQUISITION CORP. ANNOUNCES PRELIMINARY RESULTS OF CASH TENDER OFFER FOR ITS CLASS A COMMON STOCK

Thursday, November 19, 2020 - 1:44pm

The Tender Offer expired at 12:01 a.m. New York City time, on Thursday, November 19, 2020 (the Expiration Time).

Key Points: 
  • The Tender Offer expired at 12:01 a.m. New York City time, on Thursday, November 19, 2020 (the Expiration Time).
  • As of the Expiration Time, 5,153,781 or 84.1750% of the outstanding Public Shares had been validly tendered and not withdrawn in the Tender Offer.
  • Legacy will accept for purchase all of the Public Shares validly tendered and delivered in the Tender Offer at or prior to the Expiration Time.
  • Legacy was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more target businesses.

Western Asset High Income Opportunity Fund Inc. Announces Final Results of Issuer Tender Offer for Common Stock

Thursday, November 19, 2020 - 1:00pm

Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) (the Fund) announced today the final results for its issuer tender offer for up to 25% of the outstanding shares of common stock (Shares) of the Fund.

Key Points: 
  • Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) (the Fund) announced today the final results for its issuer tender offer for up to 25% of the outstanding shares of common stock (Shares) of the Fund.
  • The Funds tender offer expired on Monday, November 16, 2020 at 11:59 p.m., New York City time.
  • Because the number of Shares tendered exceeds 31,699,738 Shares, the tender offer has been oversubscribed.
  • Any questions about the tender offer can be directed to Georgeson LLC, the information agent for the tender offer, toll free at (888) 607-9107.

Hilltop Holdings Inc. Announces Final Results of Tender Offer

Wednesday, November 18, 2020 - 11:00am

American Stock Transfer & Trust Company, LLC will promptly issue payment for the shares of Hilltop common stock validly tendered and accepted for purchase in the tender offer.

Key Points: 
  • American Stock Transfer & Trust Company, LLC will promptly issue payment for the shares of Hilltop common stock validly tendered and accepted for purchase in the tender offer.
  • The information in this press release describing the tender offer is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell shares of common stock in the tender offer.
  • The tender offer was made only pursuant to the Offer to Purchase and the related materials that the Company filed with the SEC, as amended or supplemented.
  • Stockholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, D.F.

BioSpecifics Merger Investigation: Halper Sadeh LLP Encourages BioSpecifics Technologies Corp. Shareholders to Contact the Firm – BSTC

Wednesday, November 18, 2020 - 5:01am

Endo commenced a tender offer scheduled to expire on December 2, 2020 to acquire BioSpecifics common stock for $88.50 per share.

Key Points: 
  • Endo commenced a tender offer scheduled to expire on December 2, 2020 to acquire BioSpecifics common stock for $88.50 per share.
  • The investigation concerns whether BioSpecifics and its board of directors violated the law by failing to: (1) obtain the best possible price for BioSpecifics shareholders; (2) conduct a fair sales process; and (3) disclose all material information necessary for BioSpecifics shareholders to adequately assess and value the merger consideration.
  • Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.
  • Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Prospect Capital Corporation Announces Launch of Cash Tender Offers For its Outstanding 5.875% Senior Notes due 2023 and 6.375% Notes due 2024

Tuesday, November 17, 2020 - 9:17pm

As described in the Offer to Purchase, tendered Notes may be validly withdrawn from the Tender Offers at or prior to the Expiration Date.

Key Points: 
  • As described in the Offer to Purchase, tendered Notes may be validly withdrawn from the Tender Offers at or prior to the Expiration Date.
  • The Tender Offers are not conditioned on any minimum amount of Notes being tendered.
  • King & Co., Inc. to serve as the Information Agent and Tender Agent for the Notes in the Tender Offers.
  • Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses.