WEST HARTFORD, Conn.–(BUSINESS WIRE)–May 11, 2020–
Colt Defense LLC (the “Company”) introduced right this moment that it has prolonged the expiration time for its beforehand introduced money tender provide to buy any and all of its excellent $8,476,516 combination 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 May 11, 2020, to five:00 p.m., New York City time, on May 15, 2020 (as so prolonged, the “Expiration Time”), except additional prolonged. Because the withdrawal deadline of 5:00 p.m., New York City time, on April 10, 2020, has handed, tendered Notes might now not be withdrawn at any time, besides to the extent that the Company is required by regulation to supply further withdrawal rights. 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.
The Company at the moment expects that it’ll settle for for cost, topic to sure circumstances set forth within the Offering Documents, together with a minimal tender quantity of at the least 85% of the combination principal quantity of Notes excellent pursuant to the Offer and receipt by the Company of consent to buy Notes from lenders below the Company’s senior indebtedness, the entire Notes validly tendered within the Offer on or about May 18, 2020, except prolonged or terminated by the Company in its sole discretion. Upon settlement, every holder who validly tendered their Notes previous to the Early Tender Time (as outlined within the Offer Documents) will obtain, if such Notes are accepted for buy pursuant to the Offer, the full consideration of $0.25 per $1.00 principal quantity of the Notes tendered, which incorporates $0.225 because the tender provide consideration and $0.025 as an early tender cost, and every holder who validly tendered their Notes after the Early Tender Time however on or previous to the Expiration Time will obtain the tender provide consideration of $0.225 per $1.00 principal quantity of the Notes, however is not going to obtain the early tender cost. Eligible holders of Notes is not going to 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 the settlement of the Offer.
If any of the circumstances usually are not glad, the Company might terminate the Offer and return tendered Notes. The Company has the precise to waive sure circumstances with respect to the Offer. In addition, the Company has the precise, in its sole discretion, to terminate the Offer at any time, topic to relevant regulation. For extra info concerning the circumstances referenced above, please confer with 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, 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 another individual makes any advice as as to whether holders of Notes ought to tender their Notes, and nobody has been licensed to make such a advice. Holders of Notes should make their very own selections as as to whether to tender their Notes, and in the event that they determine 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 courting 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 embody handguns (pistols and revolvers), lengthy weapons & regulated choices (world navy and regulation enforcement merchandise) and a spread of firearms-related elements, coaching, providers and model licensing. The Company’s finish clients embody each section of the firearms market, together with U.S., Canadian and overseas navy forces, world regulation enforcement and safety companies, shoppers 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 longer term, 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 info accessible 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 usually are not ensures of future efficiency, and precise outcomes might differ materially from present expectations. Numerous elements might trigger or contribute to such variations. Please confer with “Risk to Non-Tendering Holders; Special Considerations” and “Forward-Looking Statements” within the Offer Documents for extra info.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20200511005782/en/
For Media Inquiries: Caitlin Kehoe, [email protected]