LONDON, Dec. 19, 2018 /PRNewswire/ -- On
December 19, 2018, PVKG Merger Sub,
Inc. ("Offeror") extended the offering period of Offeror's
previously announced cash tender offer to purchase all of the
outstanding shares of common stock of ConvergeOne Holdings, Inc.
(Nasdaq: CVON) ("ConvergeOne" or the "Company") for a period of
nine (9) business days in accordance with the terms of the
Agreement and Plan of Merger, dated as of November 6, 2018 (the "Merger Agreement"), by and
among ConvergeOne, Offeror and PVKG Intermediate Holdings Inc.
("Parent"). The tender offer was previously scheduled to
expire at 12:00 midnight, Eastern time, on December 19, 2018 (one minute after 11:59 p.m., Eastern time, on December 19, 2018). As a result of the announced
extension, the tender offer will expire at 5:00 p.m, Eastern time,
on January 3, 2019, unless further
extended.
Continental Stock Transfer & Trust Company, the depositary
and paying agent for the tender offer, has advised Offeror that, as
of 5:00 p.m., Eastern time, on
December 18, 2018, 67,793,275 shares
of common stock of ConvergeOne were tendered pursuant to the tender
offer, which represented approximately 88% of the outstanding
shares of common stock of ConvergeOne. Stockholders who have
already tendered their shares of common stock of ConvergeOne do not
have to re-tender their shares or take any other action as a result
of the extension of the offer period under the tender offer.
Innisfree M&A Incorporated is the Information Agent for the
tender offer and any questions or requests for the Offer to
Purchase and related materials with respect to the tender offer may
be directed to them, toll-free at (888) 750-5834.
About CVC
CVC Capital Partners is a leading private equity and investment
advisory firm. Founded in 1981, CVC today has a network of 24
offices and approximately 450 employees throughout Europe, Asia
and the US. To date, CVC has secured commitments of over
US$110 billion from some of the
world's leading institutional investors across its private equity
and credit strategies. In total, CVC currently manages over
US$70 billion of assets. Today, funds
managed or advised by CVC are invested in 71 companies worldwide,
employing c.295,000 people in numerous countries. Together, these
companies have combined annual sales of approximately US$100 billion. For further information
about CVC, please visit www.cvc.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain forward-looking statements,
including, but not limited to, the proposed acquisition of
ConvergeOne by affiliates of CVC Fund VII ("CVC"), the capabilities
of the combined company following the acquisition, statements
regarding the proposed transaction between affiliates of CVC and
ConvergeOne, the expected timetable for completing the transaction,
strategic and other potential benefits of the transaction, and
other statements about affiliates of CVC, CVC or ConvergeOne
managements' future expectations, beliefs, goals, plans or
prospects, are subject to known and unknown risks and uncertainties
such as, but not limited to, those described in ConvergeOne's
periodic reports on file with the U.S. Securities and Exchange
Commission (the "SEC"). These forward-looking statements are
based on CVC's and ConvergeOne's current plans and expectations and
are subject to or involve certain known and unknown risks and
uncertainties that could cause actual future events or results to
be different from those described in or implied by the
forward-looking statements. Risks and uncertainties include,
among other things, risks related to changes in facts and
circumstances and other uncertainties concerning the proposed
transaction or the occurrence of any event, change or other
circumstances that could give rise to the termination of the Merger
Agreement and the proposed transactions thereby. Readers are
cautioned not to place undue reliance on any of these
forward-looking statements. These forward-looking statements speak
only as of the date hereof. Except as required by applicable law or
regulation, CVC and ConvergeOne undertake no obligation to update
or revise any of these forward-looking statements to reflect future
events or circumstances. Further information about these matters
can be found in ConvergeOne's SEC filings that are available at
www.sec.gov. CVC and ConvergeOne caution investors not to
place considerable reliance on the forward-looking statements
contained in this press release.
Additional Information
This press release is neither an offer to purchase nor a
solicitation of an offer to sell securities. On November 21, 2018, Parent, Offeror and certain
affiliates of CVC, filed a tender offer statement on Schedule TO
(including the Offer to Purchase, a related Letter of Transmittal
and other offer materials) with the SEC, and ConvergeOne filed the
related Solicitation/Recommendation statement on Schedule 14D-9
with the SEC. Prior to making any decision regarding the tender
offer, ConvergeOne stockholders are strongly advised to read the
Schedule TO (including the Offer to Purchase, a related Letter of
Transmittal and other offer materials) and the related
Solicitation/Recommendation statement on Schedule 14D-9.
ConvergeOne stockholders may obtain the Schedule TO (including the
Offer to Purchase, a related Letter of Transmittal and other offer
materials) and the related Solicitation/Recommendation statement on
Schedule 14D-9 at no charge on the SEC's website at www.sec.gov.
In addition, the Schedule TO (including the Offer to
Purchase, a related Letter of Transmittal and other offer
materials) and the related Solicitation/Recommendation statement on
Schedule 14D-9 may be obtained free of charge from Innisfree
M&A Incorporated, the information agent for the tender offer,
at 501 Madison Avenue, 20th Floor, New
York, New York 10022, Telephone Number (888) 750-5834 or
banks and brokers may call (212) 750-5833.
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content:http://www.prnewswire.com/news-releases/affiliates-of-cvc-fund-vii-announce-extension-of-tender-offer-for-all-outstanding-shares-of-convergeone-300768884.html
SOURCE CVC Capital Partners