LONDON, 10 April
2022 /PRNewswire/ -- Tetragon announces the final
results of the "modified Dutch auction" tender offer to purchase a
portion of the outstanding non-voting shares of Tetragon for a
maximum aggregate payment of $50,000,000 in cash. The tender offer expired at
11:59 p.m. (ET) on 7 April 2022.
J.P. Morgan Securities plc (which conducts its UK investment
banking business as J.P. Morgan Cazenove) acted as dealer manager
for the tender offer and Computershare Investor Services PLC acted
as tender agent for the tender offer. As dealer manager, J.P.
Morgan determined the final purchase price at which Tetragon will
purchase shares in the tender offer. As tender agent, Computershare
determined the final proration factor.
In accordance with the terms of the tender offer, Tetragon has
accepted for purchase 4,291,157 non‑voting shares at a purchase
price of $9.75 per share. The
aggregate cost of this purchase is $41,838,780.75, excluding fees and expenses
relating to the tender offer. A total of 4,291,157 Tetragon
non-voting shares were properly tendered and not properly withdrawn
at or below the purchase price of $9.75 per share.
Tetragon will promptly make payment for the shares validly
tendered and accepted for purchase, which is expected to occur on
or about 14 April 2022.
Tetragon is a closed-ended investment company that invests in a
broad range of assets, including public and private equities and
credit (including distressed securities and structured credit),
convertible bonds, real estate, venture capital, infrastructure,
bank loans and TFG Asset Management, a diversified alternative
asset management business. Where appropriate, through TFG Asset
Management, Tetragon seeks to own all, or a portion, of asset
management companies with which it invests in order to enhance the
returns achieved on its capital. Tetragon's investment objective is
to generate distributable income and capital appreciation. It aims
to provide stable returns to investors across various credit,
equity, interest rate, inflation and real estate cycles. The
company's non-voting shares are traded on Euronext in Amsterdam, a regulated market of Euronext
Amsterdam N.V., and on the Specialist Fund Segment of the main
market of the London Stock Exchange. For more information
please visit the company's website at www.tetragoninv.com.
+1 646 818
9298 +1 646 818 9234
+44 7717 281
665 +44 7940 166 251
This release contains inside information within the
meaning of Article 7(1) of the EU Market Abuse Regulation
(2014/596/EU) ("EU MAR") and of the UK version of EU MAR as it
forms part of UK law by virtue of the European Union (Withdrawal)
Act (as amended).
This release does not contain or constitute an offer to sell or
a solicitation of an offer to purchase securities in the United States or any other jurisdiction.
The securities of Tetragon have not been and will not be registered
under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United
States or to U.S. persons unless they are registered under
applicable law or exempt from registration. Tetragon does not
intend to register any portion of its securities in the United States or to conduct a public offer
of securities in the United
States. In addition, Tetragon has not been and will not be
registered under the U.S. Investment Company Act of 1940, as
amended, and investors will not be entitled to the benefits of such
Act. Tetragon is registered in the public register of the
Netherlands Authority for the Financial Markets under Section 1:107
of the Dutch Financial Markets Supervision Act as an alternative
investment fund from a designated state.
J.P. Morgan Securities plc, which is authorised by the UK
Prudential Regulation Authority and regulated by the UK Financial
Conduct Authority and the Prudential Regulation Authority in the
United Kingdom, is acting
exclusively for Tetragon and for no one else in connection with the
tender offer and will not be responsible to anyone (whether or not
recipient of the tender offer) other than Tetragon for providing
the protections afforded to the clients of J.P. Morgan Securities
plc or for providing advice in relation to the tender offer.