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Witt O’Brien’s, a subsidiary of SEACOR Holdings, has facilitated over 68,000 emergency rental assistance applications, disbursing nearly $250 million. Since the U.S. Department of the Treasury's Emergency Rental Assistance Program launched in January 2021, the firm has collaborated with various state and local governments. Witt O’Brien’s aims to expedite fund distribution to prevent evictions as moratoriums expire. Additionally, they have managed over $11 billion in pandemic relief funds, offering comprehensive grant lifecycle management and strategic planning to combat COVID-19-related housing instability.
SEACOR Holdings has completed its acquisition of U.S. Shipping Corp (USSC), a key player in long-haul marine transportation for chemicals and petroleum in the U.S. coastwise trade, effective August 13, 2021. This move positions SEABULK, a segment of SEACOR, as one of the largest operators under the Jones Act with a fleet of 15 coastwise vessels. The combined fleets promise enhanced customer service through modern equipment and a dedicated operations team. Financial terms were not disclosed, but the acquisition is expected to benefit existing customers significantly.
Witt O'Brien’s has launched CO:RETM, a tailored resilience program for mid-sized companies. This managed service integrates crisis management, business continuity, and communications, addressing threats like pandemics and cyber-attacks. Designed to support firms lacking resources for in-house resilience, CO:RETM offers a comprehensive solution including crisis management playbooks, 24/7 team activation, and annual training. CEO Tim Whipple emphasizes the necessity of such programs for commercial viability amidst increasing disruptions.
Witt O’Brien’s, a leader in crisis management, announced the results of its 9th Annual Event Impact Management Study, indicating significant executive involvement in crisis response. Key findings showed that 89% of leaders engaged due to the pandemic, alongside increases in response rates to cyberspace attacks (38%), health/safety issues (33%), and protests (33%). The study aims to enhance resilience practices in organizations, and Witt O’Brien’s continues to support COVID-19 responses across various sectors, helping to manage over $8 billion in federal recovery funds.
Witt O’Brien’s, a subsidiary of SEACOR Holdings, has partnered with over 80 state and local governments for COVID-19 relief efforts, managing approximately $8 billion in federal funding. The recent $1.9 trillion American Rescue Plan aims to support both immediate and long-term recovery. Witt O’Brien’s offers services in fund maximization, program design, grants management, and emergency assistance including rental aid and food security initiatives. The firm is recognized for its expertise in crisis management, assisting in numerous health crises and natural disasters.
SEACOR Holdings has been acquired by American Industrial Partners (AIP) after receiving 70.4% of outstanding shares in a tender offer priced at $41.50 per share. This milestone marks SEACOR's transition to a private company, with its common stock ceasing to trade on the New York Stock Exchange. Both management teams are optimistic about the future, highlighting enhanced financial flexibility and growth opportunities. AIP aims to leverage SEACOR's proven strategies and attractive portfolio, emphasizing a strong partnership moving forward.
SEACOR Holdings announced a Fundamental Change Purchase Offer following its merger on April 15, 2021. Holders of its 2.50% Convertible Senior Notes due 2027 and 3.25% Convertible Senior Notes due 2030 can require the company to purchase their notes for cash by May 17, 2021. The purchase price will be $1,010.56 for each $1,000 of 2027 Notes and $1,000.18 for each $1,000 of 2030 Notes. Holders can also convert their notes into cash during the conversion period at rates of $790.08 and $547.47 per $1,000, respectively.
SEACOR Holdings Inc. announced a notice of redemption for its 2.50% Convertible Senior Notes due 2027, effective May 17, 2021. The redemption will cover the principal amount along with accrued interest, ceasing on the redemption date. Holders can convert their notes into cash at a rate of $790.08 per $1,000 principal until May 14, 2021. The notice has been sent to all holders, detailing the redemption terms outlined in the relevant Indenture. SEACOR is publicly traded under the symbol CKH.
SEACOR Holdings Inc. (NYSE: CKH) has successfully completed its tender offer, with approximately 70.4% of outstanding shares tendered. The offer, initiated by American Industrial Partners, was set at $41.50 per share in cash and expired on April 14, 2021. Following this completion, Purchaser will merge with SEACOR, with each remaining share converting to $41.50 per share. As a result, SEACOR's common stock will cease to trade on the NYSE.
SEACOR Holdings (NYSE: CKH) and American Industrial Partners have announced the removal of the ability to tender by guaranteed delivery in their ongoing tender offer priced at $41.50 per share. As of April 9, 2021, 70.2% of shares were tendered, and the offer has been extended to April 14, 2021. This adjustment aims to meet the minimum tender condition of 66 2/3% and clear market confusion. A $1,250,000 extension fee is to be paid daily during this period. Shareholders are advised to fulfill their obligations and avoid re-tendering shares.
