Bexil Corporation Announces Results of Tender Offer

Rhea-AI Summary

Bexil Corporation (OTC PINK: BXLC) announced the results of its tender offer, concluding on June 1, 2022, during which it accepted 320 shares at $27.50 per share. Payments for accepted shares will be processed promptly by the depositary. The company may consider further repurchases of shares through various methods, though this announcement is solely informational and does not constitute an offer to purchase shares. Bexil aims to increase its book value per share over time for shareholder benefit.

Positive

• Accepted 320 shares in the tender offer at $27.50 each, indicating shareholder interest.

Negative

• None.

MILLBROOK, NY / ACCESSWIRE / June 2, 2022 / Bexil Corporation (OTC PINK:BXLC) ("Bexil" or the "Company") today announced the results of its tender offer, which expired at 5:00 p.m. ET on June 1, 2022.

Based on the count by Securities Transfer Corporation, the depositary for the tender offer, Bexil accepted for payment an aggregate of 320 shares at a purchase price of $27.50 per share. The depositary will promptly pay for all the shares accepted for payment in accordance with the terms of the tender offer materials.

The number of shares of shares expected to be purchased by the Company and the aggregate purchase price for the shares are subject to final confirmation by the depositary and the proper delivery of shares tendered, including any shares tendered pursuant to the guaranteed delivery procedure.

Subsequent to the expiration of the tender offer, the Company may, in its sole discretion, engage in additional repurchases of shares of the Company. Such repurchases, should they occur, could be made through additional tender offers, solicited or unsolicited transactions in the open market, or in privately negotiated transactions at such times and prices, and on such other terms, as the Company deems appropriate. Such prices and terms may differ from the price and terms of the tender offer.

This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to purchase any Company shares.

About Bexil Corporation

The objective of Bexil Corporation, a holding company, is to increase book value per share over time for the benefit of its shareholders. The Company is primarily engaged through a wholly owned subsidiary, Bexil Advisers LLC, in investment management. Bexil Advisers is a registered investment adviser and the investment manager to Dividend and Income Fund, a closed end fund (Stock Symbol:DNIF) (NAV Symbol:XDNIX). To learn more about Bexil, including Rule 15c2-11 information, please visit www.Bexil.com.

Safe Harbor Note

This release contains certain "forward looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Bexil, which may cause the Company's actual results to be materially different from those expressed or implied by such statements. Investors should carefully consider the risks, uncertainties and other factors, together with all of the other information included in the Company's Annual Report, at http://www.bexil.com/cautionary-language.html, and similar information. The forward looking statements made herein are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.

Contact:

Russell Kamerman
Secretary
1-212-785-0900
rkamerman@bexil.com
www.Bexil.com

SOURCE: Bexil Corporation

View source version on accesswire.com:
https://www.accesswire.com/703764/Bexil-Corporation-Announces-Results-of-Tender-Offer

FAQ

What were the results of Bexil Corporation's tender offer on June 1, 2022?

Bexil Corporation accepted 320 shares at a price of $27.50 per share during its tender offer, which expired on June 1, 2022.

What is the share purchase price in Bexil Corporation's recent tender offer?

The share purchase price in Bexil Corporation's recent tender offer was $27.50 per share.

Will Bexil Corporation conduct more share repurchases after the tender offer?

Yes, Bexil Corporation may engage in additional share repurchases through various methods at its discretion.

What is the main goal of Bexil Corporation?

The main goal of Bexil Corporation is to increase book value per share over time for the benefit of its shareholders.

Is the announcement of the tender offer from Bexil Corporation an invitation to purchase shares?

No, the announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation for shares.