Ravenswood Acquisition Long Term Holdings LLC Announces Results of Common Stock Tender Offer
23 March 2007 - 2:02AM
PR Newswire (US)
NEW YORK, March 22 /PRNewswire-FirstCall/ -- Ravenswood Acquisition
Long Term Holdings, LLC today announced the results of its tender
offer to purchase up to 541,000 shares ("Shares") of the Class A
Common Stock, par value $0.001 per share, of Avalon Correctional
Services, Inc. (OTC:CITY) at a price of $2.70 per share. The tender
offer expired at 4:00 PM, New York City time, on Wednesday, March
21, 2007. Based on tenders directly to Ravenswood Acquisition Long
Term Holdings, LLC and information received from the Depositary
Trust and Clearing Corporation, approximately 197,546 Shares were
properly tendered and not withdrawn. All validly tendered Shares
have been accepted for payment in accordance with the terms of the
tender offer. Ravenswood Acquisition Long Term Holdings LLC will
acquire all 197,546 Shares properly tendered and not withdrawn at a
purchase price of $2.70 per share, net to the seller in cash,
without interest and subject to applicable withholding taxes.
Payment for the Shares validly tendered and accepted for purchase
under the tender offer, and return of any Shares not accepted, will
be made promptly. This announcement is not an offer to purchase
Shares nor a solicitation of an offer to sell Shares. The offer was
made solely by the Offer to Purchase and the related Letter of
Transmittal. Ravenswood Acquisition Long Term Holdings, LLC's
offices are located at 104 Gloucester Road, Massapequa, NY 11758.
Contact: John A. D'Urso Jr. Tel: 646-442-6730 DATASOURCE:
Ravenswood Acquisition Long Term Holdings, LLC CONTACT: John A.
D'Urso Jr. of Ravenswood Acquisition Long Term Holdings, LLC,
+1-646-442-6730 Web site:
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