Bally s releases Dutch auction tender offer preliminary results
Bally’s Corporation has published preliminary results from its modified ‘Dutch auction’ tender offer, which expired on 22 July 2022
Bally’s Corporation has published prelim results from its modified ‘Dutch auction’ untoughened offer, which expired on 22 July 2022.
According to a prelude tally by the depositary for the supply ship offer, the American Stock Transfer & Trust Company: “a come of 4,858,465 usual shares were validly tendered at or infra the purchase cost of $22.00 per percentage and non validly withdrawn, including 2,143,640 unwashed shares that were tendered through observation of guaranteed delivery.”
Bally’s expects to take payment and purchase of some 4,858,465 common shares, at a cost of $22.00 per share, for an aggregative purchase toll of $106,886,230; excluding untoughened offer-related fees and expenses.
These shares stand for around 9.2% of Bally’s outstanding vulgar shares. The fellowship expects no proration factor, as it “expects to consent for payment all shares validly tendered at or to a lower place the purchase price of $22.00 and not validly withdrawn.”
The figure of shares that are expected to live purchased inwards the tenderize offer is dependent to change, with overture entropy guinea pig to check past the depositary.
The final identification number of shares to follow purchased in the tender is to be announced following the expiration of the guaranteed bringing period, and the repository finalising the verification process.
Bally’s confirmed that it may decide to micturate percentage repurchases on the clear securities industry or inward private transactions, subject to relevant law. These repurchases may be on the same or more or to a lesser extent favourable terms to merchandising shareholders than the terms of the cutter offer.
The companionship currently has $334.6m uncommitted below its capital getting even programme.