Platform Specialty Products Corporation Announces Final Results of Cash Tender Offer and Consent Solicitation for, and Compl...
December 08 2017 - 4:20PM
Platform Specialty Products Corporation (NYSE:PAH) (“Platform”), a
global specialty chemicals company, announced today that, further
to Platform’s press release of November 22, 2017, holders of
$332,358,000 aggregate principal amount of its outstanding
$500,000,000 aggregate principal amount of 10.375% Senior Notes due
2021 (the “Notes”) had validly tendered their Notes at or prior to
5:00 p.m., New York City time, on November 22, 2017 (the “Early
Tender Time”) and holders of no additional Notes had validly
tendered their Notes after the Early Tender Time and at or prior to
12:00 midnight, New York City time, at the end of December 7, 2017
(the “Expiration Date”), in connection with Platform’s cash tender
offer (the “Tender Offer”) and consent solicitation for any and all
of its Notes pursuant to an Offer to Purchase and Consent
Solicitation Statement dated November 8, 2017 and a related Consent
and Letter of Transmittal (together, the “Offer Documents”).
Platform accepted for payment and settled all of the Notes
validly tendered in the Tender Offer.
Pursuant to a previously-announced conditional notice of
redemption of any and all outstanding Notes, Platform redeemed
today the remaining $167,642,000 aggregate principal amount of
Notes not tendered in the Tender Offer at the redemption price of
100% of the principal amount thereof plus the Applicable Premium
(as defined in, and determined in accordance with, the indenture
governing the Notes), plus accrued and unpaid interest to, but not
including, the redemption date.
The Tender Offer has now expired. No Notes tendered after the
Expiration Date will be accepted for payment pursuant to the Tender
Offer and all outstanding Notes have been redeemed pursuant to the
conditional notice of redemption.
This press release is not an offer to purchase or a solicitation
of consents, which were made only pursuant to the terms of the
Offer Documents and related materials and in accordance with
applicable securities laws. This press release shall not
constitute a notice of redemption of the Notes. This press
release is not an offer to purchase or a solicitation of an offer
to sell any securities.
Credit Suisse Securities (USA) LLC acted as Dealer Manager and
Solicitation Agent for the Tender Offer and consent solicitation
for the Notes.
D.F. King & Co., Inc. acted as the Tender Agent and
Information Agent for the Tender Offer and consent solicitation for
the Notes.
None of Platform, the Dealer Manager and Solicitation Agent, the
Tender Agent and Information Agent or any of their affiliates, or
any other person made any recommendation as to whether holders of
Notes should have tendered their Notes, and no one has been
authorized to make such a recommendation. Holders of Notes
must have made their own decisions as to whether to tender their
Notes, and if they decided to do so, the principal amount of the
Notes to tender. Holders of the Notes should have read
carefully the Offer Documents and related materials before any
decision was made.
About Platform
Platform is a global, diversified producer of high-technology
specialty chemicals and a provider of technical services. The
business involves the formulation of a broad range of
solutions-oriented specialty chemicals, which are sold into
multiple industries, including automotive, agriculture, animal
health, electronics, graphic arts, and offshore oil and gas
production and drilling.
Forward-Looking Statements
Certain statements contained in this release are intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995 as it contains
"forward-looking statements" within the meaning of the federal
securities laws, which include statements
regarding expectations, beliefs, plans, intentions,
projections or other statements regarding the future. These
projections and statements are based on management's estimates and
assumptions with respect to future events and financial
performance, and are believed to be reasonable, though are
inherently difficult to predict. The statements in this
release are not guarantees of future performance, and actual
results could differ materially from current expectations. A
number of factors could cause or contribute to such differences,
which include, among others, Platform’s ability to consummate the
tender offer and consent solicitation and the redemption, the
availability and cost of debt financing, market volatility,
unanticipated delays and transaction expenses, legal, tax and
regulatory requirements and overall global and economic business
conditions impacting Platform’s business . Additional
information concerning factors that could cause results to vary is,
or will be, included in Platform's periodic and other reports filed
with the Securities and Exchange Commission, including Platform's
annual report on Form 10-K for the fiscal year ended December 31,
2016 and quarterly report on Form 10-Q for the quarter ended
September 30, 2017. Platform undertakes no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACT:
Investor Relations Contact:
Carey DormanSenior Director of Corporate DevelopmentPlatform
Specialty Products Corporation1-561-406-8465
Media Contact:
Liz CohenWeber Shandwick1-212-445-8044
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