Meade is Considering Tender Offer
June 24 2013 - 5:56PM
Meade Instruments Corp. (Nasdaq:MEAD) ("Meade" or the "Company"), a
designer and manufacturer of telescopes and accessories for amateur
astronomers, today confirmed that VictoryOne, Inc. ("Victory One"),
a Delaware corporation and a wholly-owned subsidiary of MIT Capital
Inc., a California corporation, has commenced a cash tender offer
to acquire all of outstanding shares of common stock, par value
$0.01 per share ("Shares"), of Meade, for $3.65 per Share.
The tender offer is under consideration by the members of the
Board of Directors of Meade (the "Board"). The Board is consulting
with its legal and financial advisors to assist it in its
consideration and evaluation of the tender offer.
On or before July 8, 2013 (the tenth business day from
commencement of the offer as required by the tender offer rules),
Meade intends to file with the United States Securities and
Exchange Commission a solicitation/recommendation statement on
Schedule 14D-9 stating whether the Board recommends acceptance or
rejection of the tender offer, expresses no opinion and remains
neutral toward the tender offer, or is unable to take a position
with respect to the tender offer, as well as setting forth the
Board's reasons than as for its position with respect to the tender
offer. Accordingly, Meade stockholders are urged to defer making
any determination whether to accept or reject such tender offer
until they have been advised of the Board's position with respect
to the tender offer.
CONTACT: John Elwood, CFO
27 Hubble
Irvine, CA 92618
Phone: (949) 451-1450
Fax: (949) 451-1460
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