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Calloway's Nursery And 3K Limited Partnership Announce Final Results Of Joint Tender Offer And Closing Of Recapitalization
Calloway's Nursery And 3K Limited Partnership Announce Final Results Of Joint Tender Offer And Closing Of Recapitalization.
About this update from Calloway's Nursery, Inc.
[{"type":"text","content":"\n\n\n\nCalloway's Nursery And 3K Limited Partnership Announce Final Results Of Joint Tender Offer And Closing Of Recapitalization\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\n\n\n\n\n\nCalloway's Nursery And 3K Limited Partnership Announce Final Results Of Joint Tender Offer And Closing Of Recapitalization\nPR Newswire\nFORT WORTH, Texas, Feb. 19, 2016\n\n\n\nFORT WORTH, Texas, Feb. 19, 2016 /PRNewswire/ -- Calloway's Nursery, Inc. (OTC Pink: CLWY) (\"Calloway's\") and 3K Limited Partnership (\"3K\") today announced the results of the previously announced 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, which expired at 5:00 P.M., Central Time, on February 18, 2016 (the \"Offer\"). \n\nBased on a final tabulation by Computershare Trust Company, N.A., the depositary for the Offer, 1,032,413 shares of Calloway's common stock were validly tendered and not withdrawn prior to the expiration of the Offer. In accordance with the terms of the Offer, 1,032,413 shares of Calloway's common stock were accepted for purchase, all of which were purchased by Calloway's, for an aggregate purchase price of $2,601,680.76. The depositary will promptly issue payment for the shares accepted for purchase in the Offer.\n\nIn addition, Calloway's and 3K announced the closing of the transactions contemplated by their Recapitalization Agreement, dated January 15, 2016, including 3K's purchase of substantially all of the shares of Calloway's common stock held by James C. Estill, the former Chief Executive Officer, former Chairman of the Board of Directors and co-founder of Calloway's, and John T. Cosby, a former executive officer, former member of the Board of Directors and co-founder of Calloway's, at a purchase price of $2.52 per share. The Offer and the purchase of these shares by 3K are collectively referred to as the \"Recapitalization.\" \n\nAs a result of the Recapitalization, 3K and its affiliates have become the largest holder of Calloway's common stock, holding approximately 56.7% of the total number of outstanding sha...