Extension of Cash Tender Offer for Structured Products Corp. CorTS Trust for BellSouth Debentures, 7% Corporate-Backed Trust Securities (CorTS) Certificates, Ticker Symbol: KTBA at $19.00

Rhea-AI Summary

745 Capital LLC has extended its cash tender offer for all outstanding Structured Products Corp. CorTS Trust for BellSouth Debentures, 7.00% Corporate-Backed Trust Securities (KTBA). The offer's expiration has been moved to April 6, 2023, at 5:00 PM New York City time. Previously tendered Certificates can be withdrawn before this new expiration. Payment for purchased Certificates will occur on or about April 13, 2023, pending the satisfaction or waiver of the Tender Offer's conditions. The announcement does not constitute an offer to purchase or sell the Certificates, with full details available through InvestorCom.

Positive

• Extension of the cash tender offer until April 6, 2023, providing more time for investors to participate.
• Payment for purchased Certificates is scheduled for on or about April 13, 2023, indicating a planned and timely resolution.

Negative

• None.

NEW YORK, March 13, 2023 /PRNewswire/ -- 745 Capital LLC (the "Purchaser") previously announced a cash tender offer (the "Tender Offer") for any and all outstanding Structured Products Corp. CorTS^SM Trust for BellSouth Debentures, 7.00% Corporate-Backed Trust Securities (CorTS^SM) Certificates (CUSIP No. 22080E205) (OTCMKTS symbol KTBA) (Bloomberg symbol KTBA <Pfd>) (the "Certificates") pursuant to the Purchaser's Offer to Purchase dated January 30, 2023 (the "Offer to Purchase") and related Letter of Transmittal (the "Letter of Transmittal").

The Purchaser announced today that it is amending the Offer to Purchase and extending the Expiration Time (as defined in the Offer to Purchase) until 5:00p.m., New York City time, on April 6, 2023, unless further extended or withdrawn. Previously tendered Certificates may be validly withdrawn prior to the Expiration Time, as extended, in accordance with the Offer to Purchase, as amended.

The Tender Offer otherwise remains subject to the conditions in the Offer to Purchase, as amended, and Letter of Transmittal. Provided that the conditions to the Tender Offer have been satisfied or waived, payment for the Certificates purchased in the Tender Offer will now be made on or about April 13, 2023.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Certificates. The Purchaser is making the offer only by the terms of the Offer to Purchase, as amended, and Letter of Transmittal, copies of which may be obtained from InvestorCom, the tender and information agent for the Tender Offer, at ktba@investor-com.com or (203) 972-9300.

About 745 Capital LLC
745 Capital was incorporated in New York in 2022 and is not affiliated with the trust which issued the Certificates.

Forward-Looking Statements
This press release contains forward-looking statements, including those related to the completion of the Tender Offer. Forward-looking statements involve many risks and uncertainties that could significantly affect anticipated results in the future. The Purchaser is not under any obligation to update its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Contact: John Glenn Grau (203) 295-7841

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SOURCE 745 Capital LLC

FAQ

What is the new expiration date for the KTBA tender offer?

The new expiration date for the KTBA tender offer is April 6, 2023, at 5:00 PM New York City time.

When will payments for the purchased KTBA Certificates be made?

Payments for the purchased KTBA Certificates will be made on or about April 13, 2023.

Can I withdraw my tendered KTBA Certificates?

Yes, previously tendered Certificates may be validly withdrawn prior to the new expiration time.

Who is the agent for the KTBA tender offer?

InvestorCom is the tender and information agent for the KTBA tender offer.

Is the press release an offer to purchase KTBA Certificates?

No, the press release is neither an offer to purchase nor a solicitation of an offer to sell the Certificates.