WESTLAKE, Ohio, Dec. 21 /PRNewswire-FirstCall/ -- TravelCenters of America, Inc. ("TA") announced today that it has extended its previously announced offer to settle all of its outstanding warrants (CUSIP Nos. 894172121, 894172113 and U89398116) (the "Warrants") to purchase TA's common stock, par value $0.0001 per share (the "Common Stock") and its consent solicitation to amend the warrant agreement pursuant to which the Warrants were issued. The offer and consent solicitation, previously set to expire at 5:00 p.m., New York City time, on December 21, 2006, will now expire at 5:00 p.m., New York City time, on January 10, 2007, unless further extended or amended by TA.
To date, TA has received tenders of warrants and related consents from more than the minimum percentage required in connection with the consent solicitation. However, TA has extended the offer and consent solicitation due to an unintentional delay in the dissemination of the offer and consent solicitation documentation to the Warrant holders. Except for the change in the expiration date, all terms and conditions of the offer and consent solicitation set forth in TA's Offer and Consent Solicitation Statement dated November 21, 2006 (the "Statement") and the related Consent and Letter of Transmittal are unchanged and remain in full force and effect.
The offer and consent solicitation are being made in connection with TA's previously announced agreement with Hospitality Properties Trust under which HPT would purchase TA (the "Merger"). TA expects this transaction to close in early 2007.
The depositary and consent agent is U.S. Bank National Association. Any questions or requests for assistance may be directed to James W. George, Executive Vice President and Chief Financial Officer of TA (telephone no. (440) 808-3002). Requests for documentation may be directed to U.S. Bank National Association, as depositary and consent agent (telephone no. (800) 934-6802).
This press release contains statements which are forward-looking statements within the meaning of applicable federal securities laws and are based upon TA's current expectations and assumptions which are subject to a number of risks and uncertainties which could cause actual results to materially differ from those anticipated.
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell Warrants or Common Stock. The offer and consent solicitation is made only pursuant to the offer and consent solicitation documents, including the Statement and related Consent and Letter of Transmittal that TA is distributing to Warrant holders. The offer and consent solicitation are not being made to Warrant holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
TravelCenters of America, Inc., headquartered in Westlake, Ohio, is the largest network of full-service travel centers in North America. TA has more than 12,000 employees at 162 locations in 40 states along the U.S. Interstate Highway system and one location in Ontario, Canada. With more than 30 years of experience, TravelCenters of America has established itself as a leader in serving professional drivers and motorists alike. For more information, go to: http://www.tatravelcenters.com/.
