WEST HARTFORD, Conn.–(BUSINESS WIRE)–March 16, 2020–
Colt Defense LLC (the “Company”) introduced right now that it has prolonged the early tender time for its beforehand introduced money tender supply to buy any and all of its excellent $8,476,516 mixture principal quantity of 8.00% Fourth Priority Secured Notes Due 2021 (the “Notes”) and associated solicitation of consents from holders of the Notes to sure amendments to the indenture governing the Notes (the “Offer”) from 5:00 p.m., New York City time, on March 13, 2020, to five:00 p.m., New York City time, on March 27, 2020 (as so prolonged, the “Early Tender Time”), except additional prolonged. The beforehand introduced withdrawal deadline for the Offer of 5:00 pm, New York City time, on March 13, 2020 can be being prolonged to five:00 p.m., New York City time, on March 27, 2020. All different phrases, provisions and circumstances of the Offer will stay in full drive and impact. Such phrases, provisions and circumstances are set forth within the Company’s Offer to Purchase and Consent Solicitation Statement dated March 2, 2020 and the associated Letter of Transmittal (collectively, the “Offer Documents”), copies of which have been beforehand distributed to eligible holders of the Notes.
Each holder who validly tenders its Notes and delivers its consent to the proposed amendments previous to the Early Tender Time, will obtain, if such Notes are accepted for buy pursuant to the Offer, the entire consideration of $0.25 per $1.00 principal quantity of the Notes tendered, which incorporates $0.225 because the tender supply consideration and $0.025 as an early tender cost. Eligible holders of Notes won’t be entitled to obtain any money cost with respect to accrued and unpaid curiosity on Notes accepted for buy and any such accrued curiosity can be forfeited, because the per $1.00 principal quantity ratio with respect to the Offer has been calculated to take account of accrued curiosity by way of the settlement of the Offer.
The beforehand introduced expiration time for the Offer of 5:00 pm, New York City time, on March 30, 2020 can be being prolonged to five:00 p.m., New York City time, on April 13, 2020, except prolonged or earlier terminated (as so prolonged, the “Expiration Time”). Holders who validly tender their Notes after the Early Tender Time however on or previous to the Expiration Time will obtain the tender supply consideration of $0.225 per $1.00 principal quantity of the Notes, however won’t obtain the consent cost.
The Company expects that such cost of the entire consideration can be made on or about April 1, 2020, except prolonged by the Company in its sole discretion. The Company expects that the cost of the tender supply consideration with respect to Notes tendered after the Early Tender Time can be made on or about April 14, 2020, except prolonged by the Company in its sole discretion. In addition, at any time after the Early Tender Time however previous to the Expiration Time, and topic to the phrases and circumstances described under, the Company might settle for for buy Notes validly tendered on or previous to such time and buy such Notes for the tender supply consideration or complete consideration, as relevant, promptly thereafter.
If any of the circumstances aren’t happy, the Company might terminate the Offer and return tendered Notes. The Company has the fitting to waive sure circumstances with respect to the Offer. In addition, the Company has the fitting, in its sole discretion, to terminate the Offer at any time, topic to relevant regulation. For extra data concerning the circumstances referenced above, please seek advice from the Offer Documents.
This announcement shall not represent a proposal to buy or a solicitation of a proposal to promote any securities. The full phrases and circumstances of the Offer for the Notes are set forth within the Offer Documents. The Company’s Offer is being made solely by way of, and topic to the phrases and circumstances set forth in, the Offer Documents and associated supplies.
Ipreo LLC is performing as Solicitation Agent and Information Agent for the Offer for the Notes. Questions concerning the Company’s Offer or requests for the Offer Documents could also be directed to Ipreo LLC at (212) 849-3880 (for banks and brokers) or (888) 593-9546 (for all others).
Neither the Company nor some other individual makes any suggestion as as to if holders of Notes ought to tender their Notes, and nobody has been approved to make such a suggestion. Holders of Notes should make their very own choices as as to if to tender their Notes, and in the event that they resolve to take action, the principal quantity of the Notes to tender. Holders of the Notes ought to learn rigorously the Offer Documents and associated supplies earlier than any determination is made.
About Colt Defense LLC
Colt Defense LLC, a Delaware restricted legal responsibility firm, with predecessors relationship again to 1836, is without doubt one of the world’s oldest designers, builders and producers of firearms for navy, private protection and leisure functions. The Company’s product strains embrace handguns (pistols and revolvers), lengthy weapons & regulated choices (world navy and regulation enforcement merchandise) and a spread of firearms-related components, coaching, providers and model licensing. The Company’s finish prospects embody each section of the firearms market, together with U.S., Canadian and international navy forces, world regulation enforcement and safety businesses, customers searching for private safety, the looking and sporting neighborhood and collectors.
Cautionary Statement on Forward-Looking Statements
Information on this launch might contain outlook, expectations, beliefs, plans, intentions, methods or different statements concerning the long run, that are forward-looking statements. These forward-looking statements contain dangers and uncertainties. All forward-looking statements included on this launch are based mostly upon data out there to us as of the date of the discharge, and we assume no obligation to replace any such forward-looking statements. The statements on this launch aren’t ensures of future efficiency, and precise outcomes might differ materially from present expectations. Numerous components might trigger or contribute to such variations. Please seek advice from “Risk to Non-Tendering Holders; Special Considerations” and “Forward-Looking Statements” within the Offer Documents for extra data.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20200316005613/en/
Colt Defense LLC