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Final Results of Its Modified Dutch Auction Tender Offer
Willis Lease Finance Corporation (NASDAQ:WLFC) today announced the final results of its modified “Dutch auction” tender offer, which expired at 5:00 p.m., New York City time, on December 16, 2015.
The Company has accepted for purchase 643,821 shares of the Company’s common stock, at a purchase price of $18.00 per share, for an aggregate purchase price of $11,588,778, excluding fees and expenses relating to the tender offer.
These shares represent approximately 7.9% of the total number of the shares of the Company’s common stock issued and outstanding as of December 18, 2015. The shares purchased include 516,129 shares that the Company was obligated to purchase under the terms of the offer and an additional 127,692 shares that the Company elected to purchase in accordance with the optional purchase provisions of the offer.
As the Company purchased all the shares that were validly tendered, there is no proration factor.
The depositary will promptly issue payment for shares validly tendered and accepted for purchase in accordance with applicable law. Shares tendered and not accepted for purchase will be returned promptly to shareholders by the depositary in accordance with applicable law.
Merrill Lynch, Pierce, Fenner & Smith Incorporated is acting as dealer manager, D.F. King & Co., Inc., is serving as the information agent for the tender offer, and American Stock Transfer & Trust Company, LLC is acting as the depositary for the tender offer.
The Company may, in the future, purchase additional shares of its common stock pursuant to its previously announced share repurchase program. However, the Company and its affiliates are prohibited from purchasing shares until at least 10 business days after December 16, 2015.
