Bridgeville, PA – Maxim Crane Works Holdings Capital, LLC (the “Company”) today announced the final results for its previously announced tender offer to purchase (the “Tender Offer”) up to $132.39 million aggregate principal amount (the “Tender Cap”) of its outstanding 10.125% Second-Priority Senior Secured Notes due 2024 (the “Notes”) for cash. The Tender Offer expired at the end of the day, 12:00 midnight, New York City time on October 13, 2020 (the “Expiration Time”).
As of September 29, 2020 (the “Early Tender Time”), the Company had been advised by D.F. King & Co., Inc. (“D.F. King”), as tender agent and information agent for the Tender Offer, that $184.7 million in aggregate principal amount, or approximately 33.89%, of the outstanding Notes had been validly tendered and not withdrawn in the Tender Offer. On October 14, 2020, the Company was advised by D.F. King that no additional outstanding Notes had been validly tendered in the Tender Offer after the Early Tender Time and prior to the Expiration Time.
Holders whose Notes have been accepted for purchase will receive $1,027.50 per $1,000 principal amount of the Notes that the Company accepts for purchase, which includes the Early Tender Premium of $30.00 per $1,000 principal amount. Holders of Notes accepted for purchase will also be paid accrued and unpaid interest on such Notes to, but excluding, the settlement date. The settlement date for the Tender Offer is expected to occur on or about October 15, 2020.
