SAN JOSE, Calif., July 23, 2013 /PRNewswire/ -- MIT Capital
Inc. and VictoryOne Inc.(together "MITC")'s tender offer to acquire
all of the outstanding common stock of Meade Instruments Corp.
(Nasdaq: MEAD) ("Meade") for $3.65
per share in cash expired at 12:00 midnight, New York City Time, at
the end of day on Friday, July 19,
2013.
The depositary for the tender offer, VStock Transfer, LLC,
informed MITC that at the expiration approximately 15,760 shares of
common stock of Meade had been validly tendered and not withdrawn
pursuant to the tender offer.
Because the tendered shares, together with the shares then owned
by MITC, did not represent at least a majority of the total number
of shares of Meade outstanding on a fully-diluted basis, the
minimum tender condition to the tender offer was not met and MITC
did not accept any of the shares tendered pursuant to the tender
offer. All tendered shares are being promptly returned to the
tendering shareholders.
About MIT Capital Inc.
MIT Capital Inc. and its affiliates sell, manufacturer, and
distribute laser and optics products, data logger, and other
instruments globally and in emerging markets. Led by the
award-winning entrepreneur and well established business leader
Jason Tian, MIT and its affiliates have extensive sales and
distribution channels, financial resources, manufacturing
facilities and expansion capabilities, and a deep management team
focused on developing technologies and products marketable and
desired by their customers.
Important Information
This communication is neither an offer to purchase nor a
solicitation of an offer to sell any shares of the capital stock of
Meade Instruments Corp. or any other securities. MIT Capital Inc.
and VictoryOne Inc. have filed an amendment to the tender offer
statement on Schedule TO/A, with the United States Securities and
Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOLDERS ARE
URGED TO READ THE AMENDMENT TO THE TENDER OFFER STATEMENT, AS
FILED, BECAUSE IT CONTAINS IMPORTANT INFORMATION. Investors
and security holders may obtain a free copy of these statements and
other documents filed with the SEC at the website maintained by the
SEC at www.sec.gov.
Contact:
MIT Capital Inc.
97 E Brokaw Rd, Suite 210
San Jose, CA 95112
Phone: 408-329-6148
Cindy Wang
cwang@terracap.com
TerraNova Capital Partners
SOURCE MIT Capital Inc.