Associated Capital Group, Inc. Announces Results of Exchange Offer
30 Octubre 2018 - 06:00AM
Business Wire
Associated Capital Group, Inc. (NYSE:AC), (the “Company”), today
released the preliminary results of the previously announced
exchange offer by the Company with respect to its Class A
shares.
The exchange offer expired at 5:00 p.m., New York City time, on
October 29, 2018 (the “Expiration Date”).
Computershare Trust Company, N.A., the exchange agent, advised
the Company that as of the Expiration Date approximately 293,943
shares were validly tendered and not withdrawn, and an additional
96,475 shares were delivered through Notices of Guaranteed
Delivery, representing approximately 7.51% and 2.47% of the Class A
shares outstanding, respectively.
The conditions to the tender offer have been satisfied and the
Company has accepted for exchange all shares of Class A common
stock validly tendered and not withdrawn at or prior to the
Expiration Date. For each share of Class A common stock accepted in
the exchange offer, tendering shareholders will receive 1.9 shares
of GAMCO Investors, Inc. (“GAMCO”) Class A common stock, together
with cash in lieu of any fractional share of GAMCO Class A common
stock. The Company will promptly deliver shares of GAMCO Class A
common stock in payment for the tendered shares of its Class A
common stock.
Important Notices and Additional Information
In connection with the transaction, GAMCO has filed with the SEC
a registration statement on Form S-4 containing a prospectus and
the Company has filed with the SEC a Schedule TO, in each case as
amended, which more fully describe the terms and conditions of the
exchange offer. The registration statement on Form S-4 was declared
effective by the SEC on October 12, 2018. Investors and security
holders may obtain a free copy of the prospectus and other
documents filed by GAMCO and the Company with the SEC at the SEC’s
web site at http://www.sec.gov. Free copies of these documents and
each of the companies’ other filings with the SEC may also be
obtained, as applicable, from the Company at
http://www.associated-capital-group.com or GAMCO at
http://www.gabelli.com.
About Associated Capital Group, Inc.
AC operates as a diversified financial services business
providing asset management emphasizing event-driven value and
merger arbitrage-oriented alternative investment portfolios for
institutions and high net worth investors; institutional research
services; and broker-dealer and underwriting services. AC also
derives investment income/(loss) from proprietary trading of assets
awaiting deployment in its operating businesses.
Forward-looking statements
Forward-looking statements involve a number of known and unknown
risks, uncertainties and other important factors, some of which are
listed below, that are difficult to predict and could cause actual
results and outcomes to differ materially from any future results
or outcomes expressed or implied by such forward-looking
statements. Some of the factors that could cause our actual results
to differ from our expectations or beliefs include a decline in the
securities markets that adversely affect our assets under
management, negative performance of our products, the failure to
perform as required under our investment management agreements, and
a general downturn in the economy that negatively impacts our
operations. We also direct your attention to the more specific
discussions of these and other risks, uncertainties and other
important factors contained in the prospectus/offer to exchange and
other public filings. Other factors that could cause our actual
results to differ may emerge from time to time, and it is not
possible for us to predict all of them. We do not undertake to
update publicly any forward-looking statements if we subsequently
learn that we are unlikely to achieve our expectations whether as a
result of new information, future developments or otherwise, except
as may be required by law.
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Associated Capital Group, Inc.Douglas R. Jamieson,
203-629-2726President & CEOAssociated-Capital-Group.com
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