Item 5.01. Change in Control of Registrant.
The offering period of the Offer and withdrawal rights expired at 12:00
midnight, Eastern Time, at the end of
2
A copy of Purchaser's press release announcing the acceptance of the Shares tendered in the Offer is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
Pursuant to the terms of the Merger Agreement, following the consummation of the
Offer, Purchaser will merge with and into the Company (the "Merger"), with the
Company surviving the Merger as a subsidiary of Parent. All Shares (other than
Shares held by the Company as treasury stock, by any subsidiary of the Company,
Parent, Purchaser or any of their respective subsidiaries or Shares for which
the holder thereof properly exercised dissenters' rights) not acquired in the
Offer will be converted into, and cancelled in exchange for, the right to
receive cash merger consideration in an amount equal to the Offer Price per
share, net to the seller in cash, without interest thereon and subject to any
applicable tax withholding. As Purchaser owns greater than 90% of the
outstanding Shares, Parent and Purchaser intend to effect a short-form merger
with the Company under
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1 Press Release issued by Purchaser onMarch 26, 2020 (incorporated herein by reference to Exhibit (a)(5)(B) to Amendment No. 2 to the Schedule TO filed byStephen T. Winn ,Mirasol Capital , Parent and Purchaser with theSEC onMarch 26, 2020 ). 3
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