TKK Symphony Acquisition Corporation Announces the Commencement of Tender Offer to Complete Merger
October 17 2019 - 7:24AM
TKK Symphony Acquisition Corporation (Nasdaq: TKKS) (the “Company”)
announced that it has today commenced a tender offer (the “Tender
Offer”) to purchase up to 25,000,000 of its ordinary shares, par
value $0.0001 per share, at a purchase price of $10.26 per Class A
common share. The ordinary shares are currently listed on the
Nasdaq Capital Market under the symbol “TKKS.” On
October 16, 2019, the closing price of the ordinary was $10.17 per
share. The Tender Offer will expire at 5:00 p.m. New
York City time on November 15, 2019 unless extended or earlier
terminated by the Company (the “Expiration Date”).
Only ordinary shares validly tendered, and not
properly withdrawn, will be purchased by the Company pursuant to
the Tender Offer. The Company’s obligation to purchase ordinary
shares pursuant to the Tender Offer is subject to the satisfaction
of certain conditions. Ordinary shares tendered pursuant to the
Tender Offer but not purchased by the Company in the Tender Offer
will be returned at the Company’s expense promptly following the
expiration of the Tender Offer.
The Tender Offer is being made in connection
with the Company’s previously announced merger with Glory Star New
Media Group Limited, a Cayman Islands company (the “Merger”). The
Tender Offer is being made pursuant to the Company’s organizational
documents, which require that in connection with the Merger, the
Company provides its shareholders with the opportunity to tender
their ordinary shares for a pro rata portion of the Company’s trust
account (the “Trust Account”). The Company intends to fund the
purchase of ordinary shares in the Tender Offer with cash available
to the Company from the Trust Account.
TKK Symphony Sponsor 1 (the Company’s Sponsor)
and holders of the Company’s founder shares, including members of
its management team, have agreed with the Company to waive the
rights to tender any ordinary shares they acquired in or after the
IPO in connection with the Tender Offer and the Merger.
The Board of Directors of the Company
recommends that you do not accept the Tender Offer with respect to
your ordinary shares. You are encouraged to review the Offer to
Purchase contained in the Company’s tender offer statement on
Schedule TO, which will be or has been filed with the U.S.
Securities and Exchange Commission (the “SEC”) and which is being
distributed to shareholders.
About TKK Symphony Acquisition
Corporation
TKK Symphony Acquisition Corporation is a blank
check company incorporated on February 5, 2018 as a Cayman Islands
exempted company and formed for the purpose of entering into a
merger, share exchange, asset acquisition, share purchase,
recapitalization, reorganization or other similar business
combination with one or more businesses or entities. Led by
Chairman and Chief Executive Officer Sing Wang, TKK Symphony
consummated the Initial Public Offering on Nasdaq on August 20,
2018, raising aggregate gross proceeds of $250,000,000.
Important Legal Information
The description contained herein is neither an
offer to purchase nor a solicitation of an offer to sell securities
of the Company. The Company expects to file or has filed a tender
offer statement on Schedule TO containing an offer to purchase,
form of letter of transmittal and other documents relating to the
Tender Offer. These documents contain important information about
the Tender Offer that should be read carefully and considered
before any decision is made with respect to the Tender Offer. These
materials will be made available to the shareholders of the Company
at no expense to them. In addition, such materials (and all other
documents filed by the Company with SEC are, and will be, available
at no charge from the SEC through its website at www.sec.gov.
Shareholders may also obtain free copies of the documents filed
with the SEC by the Company by directing a request to Morrow Sodali
LLC, as Information Agent for the Tender Offer, by telephone at:
(800) 662-5200 or by email at: TKKS.info@morrowsodali.com.
This press release contains “forward looking
statements.” Statements that are predictive in nature, that depend
upon or refer to future events or conditions, or that include words
such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“estimates,” “projects,” “forecasts,” “may,” “should” and similar
expressions are forward looking statements. These statements are
not historical facts but instead represent only the Company’s
belief regarding future results, many of which, by their nature are
inherently uncertain and outside of the Company’s control. Actual
results may differ, possibly materially, from those anticipated in
these forward looking statements. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact Information
ICR Inc.Jack WangTel: +1 (646) 308-0546Email:
gsnm@icrinc.com
Investor Relations/Media
Morrow Sodali LLCTel: (800)
662-5200E-mail: TKKS.info@morrowsodali.com
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