GVI Security Solutions, Inc., GenNx360 GVI Holding, Inc. and GenNx360 GVI Acquisition Corp. Announce Extension and Increase in T
November 24 2009 - 2:20PM
PR Newswire (US)
NEW YORK, Nov. 24 /PRNewswire-FirstCall/ -- GVI Security Solutions,
Inc. (OTC:GVSS) (BULLETIN BOARD: GVSS) ("GVI"), GenNx360 GVI
Holding, Inc. and its wholly-owned subsidiary, GenNx360 GVI
Acquisition Corp., today announced that, in connection with the
existing tender offer to purchase all of the common stock of GVI as
set forth in the Offer to Purchase dated November 3, 2009, GenNx360
GVI Acquisition Corp. has increased the purchase price of the
shares from $0.38 per share to $0.3875 per share, net to the
seller, in cash. All references in the Letter of Transmittal to the
price of $0.38 per share shall be deemed to refer to the increased
price of $0.3875 per share. Accordingly, if you have already
tendered your shares, there is no need for you to submit another
Letter of Transmittal in order to receive the increased price. If
you have not yet tendered your shares, you will receive the
increased price if you submit the Letter of Transmittal that you
received with the original tender offer materials. The deadline for
tendering the shares in the offering has been extended from 12:00
midnight New York City time at the end of Thursday, December 3,
2009, to 12:00 midnight, New York City time at the end of Tuesday,
December 8, 2009, unless further extended. Shareholders with
questions about the tender offer may call MacKenzie Partners, Inc.,
the Information Agent, toll-free at (800) 322-2885. GenNx360 GVI
Acquisition Corp. is an indirect wholly-owned subsidiary of
GenNx360 Capital Partners. Each of GenNx360 GVI Holding, Inc. and
GenNx360 GVI Acquisition Corp. was formed for the purpose of
entering into a business combination transaction with GVI Security
Solutions, Inc. and has not carried on any business activities
other than in connection with the tender offer and proposed merger.
The description contained in this press release is neither an offer
to purchase nor a solicitation of an offer to sell securities.
GenNx360 GVI Acquisition Corp. and GenNx360 GVI Holding, Inc. have
filed a Tender Offer Statement with the U.S. Securities and
Exchange Commission. THE TENDER OFFER STATEMENT (INCLUDING AN OFFER
TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND OTHER OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT CONTAIN
IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY BEFORE ANY
DECISION IS MADE WITH RESPECT TO THE OFFER. The Offer to Purchase,
related Letter of Transmittal and certain other offer documents, as
well as the Solicitation/Recommendation Statement, have been mailed
to all stockholders of GVI Security Solutions, Inc. at no expense
to the stockholders. The Tender Offer Statement (including the
Offer to Purchase, the related Letter of Transmittal and all other
offer documents filed with the Commission) and the Solicitation/
Recommendation Statement are also available for free at the
Securities and Exchange Commission's Web site at
http://www.sec.gov/. Investors and security holders are strongly
advised to read both the tender offer statement and the
solicitation/recommendation statement regarding the tender offer
referred to in this press release because they contain important
information. DATASOURCE: GVI Security Solutions, Inc.; GenNx360 GVI
Holding, Inc.; GenNx360 GVI CONTACT: Joe Doherty, +1-212-929-5958
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