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American Industrial Partners has extended the expiration time for its cash tender offer to purchase all outstanding shares of SEACOR Holdings (NYSE:CKH) until March 5, 2021. The offer price remains at $41.50 per share. As of the previous expiration, only 934,595 shares, or 4.48% of the outstanding shares, had been tendered. This extension is to meet the minimum condition that at least 66 2/3% of shares are tendered. Shareholders who have already tendered need not take further action.
American Industrial Partners has extended the expiration of its cash tender offer for SEACOR Holdings Inc. (CKH) shares until February 26, 2021, offering $41.50 per share. This extension allows time to meet the minimum tender condition of 66 2/3% of outstanding shares. As of the previous deadline, approximately 1,694,563 shares, or 8.13% of the total, had been tendered. Shareholders already tendered need not take further action. The tender offer began on December 18, 2020, and details are available in the Tender Offer Statement filed with the SEC.
SEACOR Holdings Inc. (NYSE:CKH) reported a net income of $10.8 million ($0.52 per diluted share) for Q4 2020, a notable recovery from a net loss of $(1.9) million in Q4 2019. Operating income surged to $13.3 million compared to $2.6 million a year earlier. The company noted a significant reduction in dry-docking costs contributing to improved results in its Ocean Transportation & Logistics Services segment. However, SEACOR faced challenges in certain sectors due to the ongoing impacts of the COVID-19 pandemic. The board recommended that shareholders accept an ongoing tender offer at $41.50 per share.
American Industrial Partners has extended its cash tender offer for SEACOR Holdings Inc. (NYSE:CKH) until 5:00 p.m. Eastern Time on February 19, 2021, offering $41.50 per share. The extension allows more time to meet the minimum condition of 66 2/3% of the outstanding shares being validly tendered. As of the previous expiration, about 1,924,112 shares, or 9.23% of the total, were tendered. Shareholders who have already tendered do not need to take further action. Relevant documents are available on the SEC's website.
American Industrial Partners has extended the expiration of its cash tender offer for SEACOR Holdings Inc. (NYSE:CKH) until 5:00 p.m. ET on February 12, 2021, from the original February 4 deadline. The offer price remains at $41.50 per share. As of the prior expiration, approximately 2,733,447 Shares, or 13.11% of outstanding Shares, had been tendered. Shareholders who already tendered their Shares do not need to take further action. The offer follows a previously filed Tender Offer Statement with the SEC, ensuring transparency and compliance.
American Industrial Partners has extended the expiration of its cash tender offer for SEACOR Holdings Inc. (NYSE:CKH) to February 4, 2021, offering $41.50 per share. This extension aims to meet a minimum tender condition where at least 66 2/3% of outstanding shares need to be delivered. As of the last expiration, approximately 5,804,953 shares, or 27.84% of the total, had been tendered. Shareholders who tendered their shares earlier do not need to take any further action due to this extension.
SEACOR Holdings Inc. (NYSE:CKH) responded to T. Rowe Price's concerns regarding the pending tender offer from American Industrial Partners (AIP). The SEACOR Board continues to recommend acceptance of AIP's offer of $41.50 per share, emphasizing rigorous evaluation of strategic alternatives and future cash flow forecasts. The Board's analysis indicates an expected EBITDA growth from $92 million in 2020 to $144 million in 2024, reflecting confidence in long-term prospects despite pandemic-related challenges. The Board believes the offer delivers immediate value for stockholders.
SEACOR Holdings (NYSE:CKH) announced a definitive agreement with American Industrial Partners (AIP) to take the company private in a transaction valued at approximately $1 billion. AIP will launch a tender offer to acquire all outstanding shares for $41.50 each, a 14% premium over SEACOR's last closing stock price. This strategic move aims to enhance financial flexibility and growth opportunities. The offer is contingent on shareholder participation and regulatory approvals, with the deal expected to close by the end of Q1 2021.
SEACOR Holdings Inc. (NYSE:CKH) reported its Q3 2020 financial results, showing a net income of $3.2 million ($0.16 per diluted share), down from $6.4 million ($0.32 per diluted share) in Q3 2019. Operating income also declined to $5.6 million from $12.5 million year-over-year. Cash earnings fell to $18 million from $27.7 million. Despite challenges, the company noted improved demand for freight services and secured a multiyear charter, adding $45 million to its revenue backlog. As of September 30, 2020, total debt was $248.9 million, and the company had $106.7 million in cash and marketable securities.
SEACOR Holdings Inc. (NYSE: CKH) announced that its subsidiary, Witt O’Brien’s, will sponsor the 9th Annual Event Impact Management Study, conducted by BC Management. This study will analyze organizational preparedness for events, particularly in the context of COVID-19. It aims to assess business continuity plan activation, downtime, and financial losses. Witt O’Brien’s supports various sectors in their COVID-19 responses, helping numerous organizations optimize access to Federal funding. The study participation deadline is December 16, 2020, and respondents will receive a complimentary report.
