TKK Symphony Acquisition Corporation Announces Further Extension of Expiration Date of Tender Offer for its Ordinary Shares
February 12 2020 - 7:01PM
TKK Symphony Acquisition Corporation (Nasdaq: TKKS) (“TKK” or the
“Company”) today announced that it has further extended the
expiration date of its previously announced tender offer to
purchase up to 25,000,000 ordinary shares at a purchase price of
$10.28 per share in cash plus a contingent cash payment equal to a
pro rata portion of any additional accrued interest remaining in
the Company’s trust account in excess of $10.28 per share. The
offer is being made in connection with the Company’s previously
announced share exchange with Glory Star New Media Group Limited, a
Cayman Islands exempted company. The purpose of the extension is to
provide additional time for the parties to close the transaction.
As amended, the tender offer will now expire at 5:00 p.m. New York
City time, on Thursday, February 13, 2020, unless further extended
or earlier terminated.
If the parties are unable to close the
transaction on or prior to February 20, 2020, TKK intends to issue
a dividend of one warrant to purchase one-half of one ordinary
share for each public ordinary share of TKK issued and outstanding
as of February 21, 2020, for a total of 25,000,000 warrants to
purchase an aggregate of 12,500,000 ordinary shares of TKK. Each
such warrant will be identical to the warrants included in the
units sold in the Company’s initial public offering. TKK will not
issue such dividend if the parties close the transaction on or
prior to February 20, 2020.
Continental Stock Transfer & Trust Company,
the depositary for the tender offer, has advised TKK that, as of
5:00 p.m., New York City time, on Wednesday, February 12, 2020, an
aggregate of 24,986,491 ordinary shares were properly tendered and
not properly withdrawn. TKK shareholders who have already tendered
their ordinary shares do not need to re-tender their shares or take
any other action as a result of the extension of the expiration
date of the tender offer. TKK shareholders may withdraw shares they
have previously tendered at any time prior to the extended
expiration date of the tender offer.
Complete terms and conditions of the tender
offer can be found in the Second Amended and Restated Offer to
Purchase, the related Letter of Transmittal and certain other
materials contained in the Company’s tender offer statement on
Schedule TO originally filed with the U.S. Securities and Exchange
Commission (“SEC”) on October 17, 2019, as may be further amended
from time to time (the “Offer to Purchase”), and available
at www.sec.gov. Except as described in this news release, the
terms of the tender offer remain the same as set forth in the Offer
to Purchase and in the related Letter of Transmittal.
Copies of the Offer to Purchase, the related
Letter of Transmittal and other materials related to the tender
offer may be obtained for free from the information agent, Morrow
Sodali LLC, at (800) 662-5200. Banks and brokers may call the
information agent at (203) 658-9400. The depositary for the tender
offer is Continental Stock Transfer & Trust Company.
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 an 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 has filed a tender offer statement on
Schedule TO containing the 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
TKK Symphony Acquisition (NASDAQ:TKKS)
Historical Stock Chart
From Aug 2024 to Sep 2024
TKK Symphony Acquisition (NASDAQ:TKKS)
Historical Stock Chart
From Sep 2023 to Sep 2024