Impac Announces Commencement of Offer to Purchase and Consent Solicitation for All Outstanding Preferred Stock
2009年5月29日 - 9:00PM
PRニュース・ワイアー (英語)
IRVINE, Calif., May 29 /PRNewswire-FirstCall/ -- Impac Mortgage
Holdings, Inc. (Pink Sheets: IMPM), or the "Company," a Maryland
corporation, announced today that it is commencing an offer to
purchase all outstanding shares of its 9.375% Series B Cumulative
Redeemable Preferred Stock (Pink Sheets: IMPHP) and 9.125% Series C
Cumulative Redeemable Preferred Stock (Pink Sheets: IMPHO) (the
"Offer to Purchase"). In connection with the Offer to Purchase, the
Company is also soliciting consents from holders of each series of
preferred stock to amend the company's Charter to modify the terms
of such series of preferred stock (the "Consent Solicitation").
Holders may not tender their shares of preferred stock in the Offer
to Purchase and Consent Solicitation without consenting to each of
the applicable proposed Charter amendments. (Logo:
http://www.newscom.com/cgi-bin/prnh/20070305/LAM033LOGO) The
Company is offering $0.29297 in cash for each share of Series B
Preferred Stock and $0.28516 in cash for each share of Series C
Preferred Stock validly tendered in the Offer to Purchase and
Consent Solicitation. The Offer to Purchase and Consent
Solicitation is being commenced today, Friday, May 29, 2009, and
will expire at 9 a.m., Eastern time, on June 26, 2009, unless
extended or terminated by the Company. There are a number of
conditions to the Company's obligation to accept the shares of
preferred stock tendered and consents delivered and to pay the
consideration offered, including that it receive valid tenders for
at least 66 2/3% of the aggregate liquidation preference of each
series of the Company's outstanding Series B and C Preferred Stock,
a majority of the outstanding shares of common stock approve the
proposed Charter amendments, and the Company satisfies the
distribution requirements under Maryland law at the time of
closing. If the Offer to Purchase and Consent Solicitation is
successfully completed, the Company will also contemporaneously pay
all accumulated and unpaid dividends on the Preferred Stock, which
are $1.17 per share of Series B Preferred Stock and $1.14 per share
of Series C Preferred Stock. The terms of the Offer to Purchase and
Consent Solicitation are set forth in more detail in the Company's
Offering Circular dated May 29, 2009 and related materials.
IMPORTANT NOTICE: This press release is for informational purposes
only and is not an offer to buy or the solicitation of an offer to
sell any of the Company's preferred stock. The solicitation of
offers to buy the Company's preferred stock will only be made
pursuant to the offer to purchase, the letter of transmittal and
related documents. Holders of preferred stock should read those
materials carefully because they will contain important
information, including the various terms of, and conditions to, the
tender offer. Holders of Preferred Stock may obtain the offer to
purchase, the letter of transmittal and related documents without
charge from the Securities and Exchange Commission's Website at
http://www.sec.gov/ or from our information agent, D.F. King and
Co., at 48 Wall Street, New York, New York 10005; (800) 269-6427
(toll free). Holders of preferred stock are urged to read carefully
those materials prior to making any decisions with respect to the
tender offer. About the Company Impac Mortgage Holdings, Inc. which
through its Long Term Investment Operations is primarily invested
in non-conforming mortgage loans and to a lesser extent small
balance commercial and multi-family loans. For additional
information, questions or comments, please call Justin Moisio in
Investor Relations at (949) 475-3988 or email . Web site:
http://www.impaccompanies.com/ This press release contains
forward-looking statements. These forward-looking statements are
based on management's current expectations and are subject to
uncertainty and changes in circumstance due to a number of factors,
including but not limited to: the Company's ability to complete the
Offer to Purchase and Consent Solicitation for all of its
outstanding preferred stock; and other risk factors discussed in
the company's Offering Circular and SEC reports, including its most
recent quarterly report on Form 10-Q, and annual report on Form
10-K. 3. These forward-looking statements speak only as of the date
on which they are made and, except as required by law, the Company
does not intend to update such statements to reflect events or
circumstances arising after such date.
http://www.newscom.com/cgi-bin/prnh/20070305/LAM033LOGO
http://photoarchive.ap.org/ DATASOURCE: Impac Mortgage Holdings,
Inc. CONTACT: Justin Moisio, Investor Relations of Impac Mortgage
Holdings, Inc., +1-949-475-3988, Web Site:
http://www.impaccompanies.com/
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