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Bandera Partners Issues Public Letter to Board of Tix Corporation
Bandera Partners Issues Public Letter to Board of Tix Corporation.
About this update from Tix Corporation
[{"type":"text","content":"\n\n\n\nBandera Partners Issues Public Letter to Board of Tix Corporation\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.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\n\nBandera Partners Issues Public Letter to Board of Tix Corporation\nAware that MGM has Expressed Interest in Acquiring Tix and believes that Negotiating a Sale to MGM is in the Best Interests of Tix Stockholders\nPR Newswire\nNEW YORK, July 18, 2018\n\n\n\nNEW YORK, July 18, 2018 /PRNewswire/ -- Bandera Partners LLC, a significant stockholder of Tix Corporation (\"Tix\" or the \"Company\") (OTCQX: TIXC) with beneficial ownership of approximately 15.1% of the Company's outstanding shares, announced today that it has issued a public letter to the Board of Directors of Tix regarding a potential transaction with MGM Resorts International. The full text of the letter follows.\n\n\nJuly 18, 2018\n\nTix Corporation12711 Ventura Blvd., Suite 340Studio City, California 91604Attention: Board of Directors\n\nDear Members of the Board:\n\nBandera Partners LLC (together with its affiliates, \"Bandera\" or \"we\") beneficially owns approximately 15.1% of the outstanding shares of Tix Corporation (\"Tix\" or the \"Company\"), making us the Company's largest outside stockholder.\n\nAs you are aware, we received a copy of the letter from MGM Resorts International (\"MGM\") directed to Chairman and Chief Executive Officer Mitch Francis in which MGM once again expressed its interest in acquiring all of the outstanding shares of Tix. We believe that negotiating a sale to MGM is in the best interests of the Company's stockholders and, as such, we were disappointed to learn that, to date, MGM feels that Tix has failed to engage in meaningful discussions regarding a value-maximizing transaction.\n\nTo be clear, as we expressed to Mr. Francis on Monday, we believe it is incumbent upon the Company's Board of Directors (the \"Board\") to fully and fairly explore a potential sale of the Company to MGM. To that end, we call upon the Board to immediately engage in discussions with MGM regarding a possible transaction.\n\nIn the event that the B...