LONDON, December 8, 2017 /PRNewswire/ --
Tetragon and its subsidiary Tetragon Financial Group Master Fund Limited announce the final results of the "modified Dutch auction" tender offer to purchase a portion of the outstanding non-voting shares of Tetragon for a maximum aggregate payment of $65,000,000 in cash. The tender offer expired at 11:59p.m. (EST) on 7 December 2017.
Deutsche Bank AG, London Branch acted as dealer manager for the tender offer and Computershare Investor Services PLC acted as tender agent for the tender offer. As dealer manager, Deutsche Bank determined the final purchase price at which the Tetragon Master Fund will purchase shares in the tender offer and the final proration factor.
In accordance with the terms of the tender offer, the Tetragon Master Fund has accepted for purchase 4,779,411 Tetragon non-voting shares at a purchase price of $13.60 per share. The aggregate cost of this purchase is $64,999,989.60, excluding fees and expenses relating to the tender offer. A total of 5,116,818 Tetragon non-voting shares were properly tendered and not withdrawn at or below the purchase price of $13.60 per share. Because more than $65,000,000 in value of Tetragon non-voting shares was properly tendered and not properly withdrawn, the tender offer was subject to proration pursuant to the terms of the tender offer, with appropriate adjustments to avoid purchases of fractional shares. The final proration factor for the tender offer is 93.41%, rounded to the second decimal place.[1]
The Tetragon Master Fund will promptly make payment for the shares validly tendered and accepted for purchase, which is expected to occur on or about 14 December 2017. All shares tendered and not purchased in the tender offer will be promptly returned to the tendering shareholders.
About Tetragon:
Tetragonis a closed-ended investment company that invests in a broad range of assets, including bank loans, real estate, equities, credit, convertible bonds and infrastructure and TFG Asset Management, a diversified alternative asset management business.Where sensible, through TFG Asset Management, Tetragon seeks to own all, or a portion, of asset management companies with which it invests in order to enhance the returns achieved on its capital. Tetragon's investment objective is to generate distributable income and capital appreciation. It aims to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. The company is traded on Euronext in Amsterdam N.V. and on the Specialist Fund Segmentof the main market of the London Stock Exchange. For more information please visit the company's website athttp://www.tetragoninv.com/.
This release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act as a collective investment scheme from a designated country.
[1]The full final proration factor is 93.4059363593914%.
Tetragon:
Yuko Thomas
Investor Relations
ir@tetragoninv.com
Press Inquiries:
Prosek Partners
Andy Merrill and Ryan FitzGibbon
+1-212-279-3115 ext. 216 and ext. 234
Pro-tetragon@prosek.com
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