ROCKFORD CORPORATION 
By Executive Contact:
Richard Vasek
Chief Financial Officer Rockford Corporation (480) 517-3169
Tempe, Arizona, January 7, 2012--Rockford Corporation (OTC
Pink: ROFO.PK) today announced the preliminary results of its
modified "Dutch Auction" tender offer which expired
at 12:00 a.m. New York City time on January 6, 2012.
Based on the preliminary analysis by the depositary, an
aggregate of approximately 362,000 shares were properly
tendered and not withdrawn, including approximately 599
shares that were tendered through notice of guaranteed
delivery, at prices at or below $3.25. Accordingly, pursuant
to the terms of the Offer to Purchase, Rockford expects to
accept for payment up to an aggregate of approximately
362,000 shares of its common stock at a purchase price of
$3.25 per share.
The number of shares to be purchased in the tender offer and
the price per share are preliminary. The determination of the
final number of shares to be purchased is subject to
confirmation by the depositary of the proper delivery of the
shares properly tendered and not withdrawn. The actual number
and percentage of outstanding shares properly tendered and
not withdrawn will be announced promptly following the
completion of the confirmation process. Payment for the
shares accepted for purchase will be made in cash, without
interest, promptly thereafter. Rockford intends to fund the
payment for shares from available cash.
The tender offer was made pursuant to an Offer to Purchase
and Letter of
Transmittal, each dated December 5, 2011. The Information
Agent was Georgeson Inc.
All questions regarding the tender offer may be directed to
Georgeson Inc. by telephone at (800) 903-28976 (toll-free) or
in writing to Georgeson Inc., 199 Water Street, 26th Floor,
New York, NY 10038-3560.
About Rockford Corporation
Setting the standard for excellence in the mobile audio
industry, Rockford Corporation markets and distributes
high-performance audio systems for the mobile audio
aftermarket and OEM market. Headquartered in Tempe, Arizona,
Rockford Corporation distributes its products under the
brands: Rockford Fosgate®, Rockford Acoustic Design®,
Lightning Audio®, Brax™, Helix™ and Renegade®. For more
information, please visit: www.rockfordfosgate.com,
www.rockfordacousticdesign.com, www.lightningaudio.com,
www.braxhifi.com, www.helixhifi.com and
www.renegadecaraudio.com,
Forward-looking Statement Disclosure
We make forward-looking statements in this press release
including but not limited to statements about our results of
operations. These statements may be identified by the use of
forward-looking terminology such as "may," "will," "believe,"
"expect," "anticipate," "estimate," "continue," or other
similar words.
Forward-looking statements are subject to many risks and
uncertainties. Rockford cautions you not to place undue
reliance on these forward-looking statements, which speak
only as of the date on which they are made. Actual results
may differ materially from those anticipated in our
forward-looking statements. Rockford disclaims any obligation
or undertaking to update these forward-looking statements to
reflect changes in our expectations or changes in events,
conditions, or circumstances on which our expectations are
based.
When considering our forward-looking statements, you should
keep in mind the risk factors discussed in our press releases
and earnings reports, as well as the risk factors generally
applicable to a small business such as ours. We particularly
call your attention to the risk factors and other cautionary
statements identified on our investor relations
web-site, http://www.rockfordcorp.com/RiskFactorstitled "Risk Factors That May Affect Rockford's
Operating Results, Business Prospects and Stock Price" (the
"Risk Disclosure"). We updated the Risk Disclosure as of
March 31, 2011. Our business is subject to the risk factors
noted in the Risk Disclosure, other risk factors identified
above and other risk factors we have not anticipated or
discussed. These risk factors could
cause our actual results to differ significantly from those
anticipated in our forward- looking statements.
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| Rockford Corporation annouces prelliminary results of its offer to repurchase up to $2.5 million of common stock |
