NAPERVILLE, Ill., Feb. 15, 2017 /PRNewswire/ -- CPCM Acquisition,
Inc. (the "Acquirer") announced today that it is waiving the
appraisal condition for its previously announced tender offer to
acquire all of the outstanding shares of Class A common stock (the
"Shares") of Calamos Asset Management, Inc. ("CAM"),
and is extending the offer period until 11:59 p.m., New York
City time, on February 17,
2017. The tender offer was previously scheduled to expire at
5:00 p.m., New York City time, on February 15, 2017. Approximately 4,254,000
Shares have been deposited to date in response to the tender
offer.
It had been a condition to the tender offer that the number of
Shares as to which properly executed notices of appraisal received
by CAM, and not effectively withdrawn as of immediately prior to
the expiration of the offer, did not exceed 15% of the outstanding
Shares. This condition has now been waived. Except for
such waiver and the extension of the offer period, all of the terms
and conditions set forth in the offer to purchase, as amended, and
the related letter of transmittal and the other offer materials
filed with the Securities and Exchange Commission by the Acquirer
(the "Offer Documents") remain unchanged.
As previously announced, the Acquirer is offering to purchase
all outstanding Shares for $8.25 per
Share in cash. The tender offer will be followed by a
second-step merger pursuant to Section 251(h) of Delaware's corporations statute, in which any
Shares not tendered (other than Shares owned by Acquirer and
certain affiliates, and Shares for which appraisal is properly
sought under applicable law) will be converted into the right to
receive the same cash price as paid in the tender offer. The
Acquirer is indirectly owned by Mr. John P.
Calamos, Sr. and Mr. John
Koudounis. Mr. Calamos is the founder and Global Chief
Investment Officer of Calamos Investments LLC, and CAM's
Chairman. Mr. Koudounis is the Chief Executive Officer of
CAM.
Tenders of the Shares in the tender offer must be made prior to
its expiration and may be withdrawn at any time prior to the
expiration in accordance with the terms described in the Offer
Documents.
D.F. King & Co., Inc. is
acting as the Information Agent for the tender offer, and the
Depositary for the tender offer is Computershare Trust Company,
N.A. The Offer Documents and related documents have been
distributed to CAM stockholders. For questions and information,
please call the information agent toll free at (800) 330-4627 and
all other calls at (212) 269-5550.
Important Additional Information and Where to Find It
This communication is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
shares of CAM, nor is it a substitute for the tender offer
materials that the Acquirer has filed with the SEC. The Acquirer
has filed tender offer materials on Schedule TO with the SEC, and
CAM has filed a Solicitation/Recommendation Statement on Schedule
14D-9 with the SEC with respect to the offer. THE TENDER OFFER
MATERIALS (INCLUDING THE OFFER TO PURCHASE, RELATED LETTER OF
TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE
SOLICITATION/RECOMMENDATION STATEMENT CONTAIN IMPORTANT INFORMATION
THAT SHOULD BE READ CAREFULLY AND CONSIDERED BY CAM'S STOCKHOLDERS
BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Both
the tender offer statement and the solicitation/recommendation
statement are available to CAM's stockholders free of charge. A
free copy of the tender offer statement and the
solicitation/recommendation statement are available to all
stockholders of CAM by contacting CAM at IR@calamos.com or by phone
at +1.630.245.7200, or by visiting CAM's website (www.calamos.com).
In addition, the tender offer statement and the
solicitation/recommendation statement (and all other documents
filed with the SEC) are available at no charge on the SEC's website
(www.sec.gov) upon filing with the SEC. CAM'S STOCKHOLDERS ARE
ADVISED TO READ THE TENDER OFFER STATEMENT AND THE
SOLICITATION/RECOMMENDATION STATEMENT, AS EACH MAY BE AMENDED OR
SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS
FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY
DECISION WITH RESPECT TO THE TENDER OFFER, BECAUSE THEY CONTAIN
IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE
TRANSACTION.
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visit:http://www.prnewswire.com/news-releases/waiver-of-appraisal-condition-and-extension-of-offer-period-announced-for-tender-offer-to-acquire-calamos-asset-management-300407865.html
SOURCE Calamos Asset Management, Inc.