Business
Tetragon Financial Group Limited Announcement of Tender Offer to Purchase $50,000,000 of Tetragon Non-Voting Shares
Tetragon today announces the commencement of a tender offer to purchase a portion of its outstanding non-voting shares for a maximum aggregate payment of $50,000,000 in cash. The tender offer, which was initially announced by Tetragon on 5 March 2026, will be conducted as a "modified Dutch auction" with shareholders able to tender their Tetragon non-voting shares at prices ranging from and including $13.25 up to and including $15.25 per share. The tender offer is expected to expire at 11:59 p.m.
About this update from Tetragon Financial Group Limited
[{"type":"text","content":"LONDON, March 13, 2026 /PRNewswire/ -- Tetragon today announces the commencement of a tender offer to purchase a portion of its outstanding non-voting shares for a maximum aggregate payment of $50,000,000 in cash. The tender offer, which was initially announced by Tetragon on 5 March 2026, will be conducted as a "modified Dutch auction" with shareholders able to tender their Tetragon non-voting shares at prices ranging from and including $13.25 up to and including $15.25 per share. The tender offer is expected to expire at 11:59 p.m. (ET) on 13 April 2026, unless extended or terminated earlier. J.P. Morgan Securities plc (which conducts its U.K. investment banking business as J.P. Morgan Cazenove) ("J.P. Morgan") will act as dealer manager for the tender offer and Computershare Investor Services PLC ("Computershare") will act as tender agent for the tender offer.","length":905,"tagName":"p"},{"type":"text","content":"Eligible shareholders will be able to indicate how many Tetragon non-voting shares and at what price or prices within the specified range they wish to tender. Based on the number of shares tendered and the prices specified by the tendering shareholders, J.P. Morgan, as dealer manager, will determine the lowest price per share within the range that will enable Tetragon to purchase $50,000,000 in value of Tetragon non-voting shares, or a lower amount if the tender offer is not fully subscribed. All shares purchased by Tetragon in the tender offer will be purchased at the same price. If, based on the determined purchase price, more than $50,000,000 in value of shares are properly tendered and not properly withdrawn, valid tenders made below the determined purchase price will be accepted in full, except in the limited circumstances described below, while valid tenders made at the determined purchase price will be subject to proration. However, if the pro rata reduction of the number of shares eligible to be purchased at the determined purchase price is insufficient to reduce the value of the shares to be purchased to $50,000,000, then none of the shares tendered at the determined purchase price will be purchased, and instead there will be a pro rata reduction in the purchase of shares tendered at the next highest price below the determined purchase price to the extent necessary to reduce th...