Liberated Syndication, Inc. (“Libsyn” or the “Firm”), the main podcasting platform for creators and advertisers, issued a reminder that it’s beforehand introduced Tender Supply to buy shares of its frequent inventory is ready to shut as scheduled and won’t be prolonged. The Tender Supply was launched to buy shares for an combination value of $10 million at a value per share starting from $1.10 to $1.60, in $0.10 increments.
The Tender Supply, which commenced on November 13, 2024, is ready to run out at 11:59 P.M., Jap Time, on December 13, 2024. stockholders are inspired to benefit from this chance earlier than the deadline. Shares tendered could also be withdrawn at any time previous to the expiration of the Tender Supply. Stockholders who don’t want to take part don’t have to take any motion.
Pursuant to the Tender Supply, stockholders of the Firm might tender all, or a portion of their shares at a value specified by the tendering stockholder (“tender value”) of not lower than $1.10 and less than $1.60 per share, in $0.10 increments.
Pursuant to the Tender Supply, the Firm will first buy all tendered and never withdrawn shares on the lowest value throughout the vary of costs specified above and can then buy all tendered and never withdrawn shares on the subsequent highest value throughout the vary of costs specified above (in $0.10 increments) and can proceed this course of till the corporate has bought ip to $10 million within the combination of its frequent inventory.
Stockholders will obtain their tender value proceeds in money, topic to relevant withholding (if any) and with out curiosity, for shares tendered at costs equal to or lower than the buying value, topic to the circumstances of the Tender Supply.
The phrases and circumstances of the Tender Supply are detailed in an Supply to Buy and associated Letter of Transmittal and annex to that letter have been mailed to the Firm’s Stockholders. These paperwork can be found on the Firm’s web site at www.libsyn.com.
The Tender Supply can be topic to the circumstances described within the Supply to Buy. To be legitimate, tenders of shares have to be made previous to the expiration date of the Tender Supply interval and in any other case in accordance with the directions for tendering shares set forth within the Supply to Buy and associated Letter of Transmittal.
The Firm’s Board of Administrators (the “Board”) has approved the Tender Supply. Nonetheless, not one of the Firm, the Firm’s Board of Administrators, the depository or the data agent for the Tender Supply makes any suggestion to stockholders as as to whether to tender or chorus from tendering their shares or as to the worth or costs at which stockholders might select to tender their shares. The Firm has not approved any particular person to make such suggestion.
Stockholders should make their very own choices as as to whether to tender their shares, and, if that’s the case, what number of shares to tender and the worth or costs at which their shares needs to be tendered. In doing so, stockholders ought to learn fastidiously the data contained in, or included by reference in, the Supply to Buy and within the Letter of Transmittal (as they might be amended or supplemented). Stockholders are urged to debate their choices with their very own tax advisors, monetary advisors and/or brokers.
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