Corbett Technology Solutions, Inc. Announces Successful Completion of Tender Offer for AFA Protective Systems, Inc.
Corbett Technology Solutions, Inc. (CTSI) has successfully completed its tender offer for AFA Protective Systems, Inc. (OTCMKTS: AFAP), acquiring approximately 99.17% of its outstanding shares at $743.50 per share in cash. The tender offer expired on October 26, 2021, and all validly tendered shares were accepted for payment. Following the merger, AFA will cease trading on OTCMKTS and become a wholly-owned subsidiary of CTSI. This strategic acquisition enhances CTSI's portfolio in technology integration and innovation.
- Successful completion of tender offer for AFA Protective Systems.
- Acquisition of approximately 99.17% of outstanding shares.
- Strategic merger enhances CTSI's technology integration portfolio.
- Shareholders receive a premium of $743.50 per share.
- AFA Protective Systems stock will cease trading on OTCMKTS.
CHANTILLY, Va., Oct. 29, 2021 /PRNewswire/ -- Corbett Technology Solutions, Inc. ("CTSI"), a portfolio company of Wind Point Partners, announced that APS Acquisitionco, Inc. ("APS"), an affiliate of CTSI, has accepted for payment all shares of common stock of AFA Protective Systems, Inc. (OTCMKTS: AFAP) (the "Company") that were validly tendered as of the expiration of its tender offer to acquire all outstanding shares of common stock of the Company at a purchase price of
The depositary for the tender offer advised that, as of the offer's expiration, shares of common stock of the Company which represent approximately
On September 14, 2021, CTSI announced that it had signed a definitive merger agreement pursuant to which a tender offer would be made. Pursuant to the merger agreement, APS was merged today with and into the Company, with the Company the surviving corporation and a direct wholly-owned subsidiary of CTSI. In connection with the completion of the merger, all outstanding shares of common stock of the Company are being canceled and converted into the right to receive cash equal to the
About Corbett Technology Solutions, Inc.
For over five decades, CTSI has been at the forefront of technology integration and innovation with critical communications, collaboration, audiovisual, fire, and security solutions for enterprise, government, healthcare and education customers. We deliver best-in-class solutions and services with highly trained, lean-certified user experience practitioners, programmers, technicians, engineers and customer care representatives. CTSI delivers unmatched design, installation, integration, managed and subscription services that deliver high-quality, end-to-end results tailored to customers' unique needs and challenges.
Additional information about CTSI is available at www.ctsi-usa.com
Media Contact:
Alan Rosenkoff, CTSI
Phone: 703-631-3377
Email: Arosenkoff@ctsi-usa.com
Connect with us: LinkedIn, Twitter, or please visit CTSI-USA.COM.
View original content to download multimedia:https://www.prnewswire.com/news-releases/corbett-technology-solutions-inc-announces-successful-completion-of-tender-offer-for-afa-protective-systems-inc-301412081.html
SOURCE CTSI
FAQ
What was the purchase price for AFA Protective Systems shares during the tender offer by CTSI?
When did the tender offer for AFA Protective Systems expire?
What percentage of AFA Protective Systems shares were tendered in the offer?
What will happen to AFA Protective Systems stock after the merger with CTSI?
Who is the acquiring company of AFA Protective Systems?
