Business
Calloway's Nursery And 3K Limited Partnership Announce Commencement Of Joint Tender Offer For Shares Of Calloway's Common Stock
Calloway's Nursery And 3K Limited Partnership Announce Commencement Of Joint Tender Offer For Shares Of Calloway's Common Stock.
About this update from Calloway's Nursery, Inc.
[{"type":"text","content":"\n\n\n\nCalloway's Nursery And 3K Limited Partnership Announce Commencement Of Joint Tender Offer For Shares Of Calloway's Common Stock\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCalloway's Nursery And 3K Limited Partnership Announce Commencement Of Joint Tender Offer For Shares Of Calloway's Common Stock\nPR Newswire\nFORT WORTH, Texas, Jan. 20, 2016\n\n\n\nFORT WORTH, Texas, Jan. 20, 2016 /PRNewswire/ -- Calloway's Nursery, Inc. (PK:CLWY) (\"Calloway's\") and 3K Limited Partnership (\"3K\") today announced that, pursuant to a Recapitalization Agreement between the parties (the \"Recapitalization Agreement\"), they have commenced a joint tender offer to purchase up to 4,000,000 shares of Calloway's common stock at a purchase price of $2.52 per share. The joint tender offer is being made pursuant to an Offer to Purchase, dated January 20, 2016 (the \"Offer to Purchase\"), and a related Letter of Transmittal (which, together with any amendments or supplements thereto, collectively constitute the \"Offer\").\n\nPursuant to the terms of the Recapitalization Agreement, the first 2,000,000 shares tendered in the Offer will be purchased by Calloway's, the next 1,000,000 shares tendered in the Offer will be purchased by 3K and any shares tendered in excess of the first 3,000,000 shares will be purchased by Calloway's and 3K on a fifty-fifty basis. \n\nParticipation in the Offer by Calloway's shareholders is voluntary and shareholders are not required to tender any shares in the Offer. If more than 4,000,000 shares are tendered in the Offer, Calloway's and 3K will purchase 4,000,000 shares from all shareholders who validly tendered their shares in the Offer on a pro rata basis. The Offer is not conditioned on a minimum number of shares being tendered, but is subject to the satisfaction or waiver of certain closing conditions described in the Offer to Purchase.\n\nThe Offer will expire at 5:00 P.M., Central Time, on February 18, 2016, unless extended. Shareholders who wish to tender their shares in the Offer must properly tender such sha...