745 Capital Announces Extension of Cash Tender Offer for Ladenburg Thalmann Financial Services Inc. 6.50% Senior Notes Due 2027 through August 12, 2022 at $15.00 plus Accrued Interest, NYSE symbol LTSL
745 Capital LLC has amended its cash tender offer for up to $50 million of Ladenburg Thalmann Financial Services’ 6.50% Senior Notes Due 2027 (LTSL). The new expiration time for the tender offer is now August 12, 2022, at 5:00 PM NYC time. Previously tendered notes can be withdrawn before this new time. Payments for purchased notes will occur around August 17, 2022, pending satisfaction of the offer's conditions. This announcement does not constitute an offer to purchase or a solicitation for the sale of the notes.
- Extension of the tender offer allows investors more time to respond.
- Potential liquidity for investors holding the senior notes.
- The tender offer may indicate a lack of demand for the senior notes.
- Market conditions that led to an extension could signal investor uncertainty.
NEW YORK, July 18, 2022 /PRNewswire/ -- 745 Capital LLC (the "Purchaser") previously announced a cash tender offer (the "Tender Offer") for up to
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defined in the Offer to Purchase) until 5:00p.m., New York City time, on August 12, 2022, unless further extended or withdrawn. Previously tendered Notes may be validly withdrawn prior to the Expiration Time, as extended, in accordance with the Offer to Purchase, as amended.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 Notes purchased in the Tender Offer will now be made on or about August 17, 2022.
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. 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 D.F. King & Co., Inc., the tender and information agent for the Tender Offer, at LTSL@dfking.com or (800) 706-3274 or, for banks and brokers, at (212) 269-5550.
745 Capital was incorporated in New York in 2022 and is not affiliated with Ladenburg Thalmann Financial Services Inc.
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: Michael Horthman (212) 232-3233
View original content:SOURCE 745 Capital LLC
FAQ
What is the new expiration date for the tender offer for LTSL?
How much is the cash tender offer for Ladenburg Thalmann's senior notes?
When will payments for the purchased notes be made?
Can previously tendered notes be withdrawn?
Is this press release an offer to purchase the notes?
