The St. Joe Company Announces Final Results of Tender Offer
28 September 2015 - 9:00PM
Business Wire
The St. Joe Company (NYSE:JOE) announced today the final results
of its tender offer, which expired at 5:00 p.m., New York City
time, on September 22, 2015.
Based on the final count by the depositary, the Company accepted
for purchase 16,348,143 shares of its common stock at a purchase
price of $18.00 per share, net to the seller in cash, less any
applicable withholding taxes and without interest, for a total
purchase price of approximately $294.3 million. The repurchased
shares represent approximately 17.8% of the Company’s common stock
outstanding as of September 24, 2015. The Company will promptly pay
for the shares accepted for purchase.
D.F. King & Co., Inc. acted as information agent for the
tender offer and American Stock Transfer & Trust Company, LLC
acted as the depositary. All inquiries about the tender offer
should be directed to D.F. King & Co., Inc. at (800) 330-5897
(Toll Free) or (212) 269-5550 (Collect).
Important Notice Regarding
Forward-Looking Statements
This press release may include forward-looking statements,
including statements regarding the Company’s ability to complete
the tender offer, the number of shares the Company will be able to
purchase in the tender offer and the ability to achieve the
benefits contemplated by the tender offer. The statements made by
the Company are based upon management's current expectations and
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include
market conditions and other factors beyond the Company's control
and the risk factors and other cautionary statements described in
the Company's filings with the SEC, including the Company's Annual
Report on Form 10-K filed with the SEC on February 27, 2015 as
updated by subsequent Quarterly Reports on Form 10-Qs and other
current report filings.
About The St. Joe
Company
The St. Joe Company together with its consolidated subsidiaries
is a real estate development and operating company with real estate
assets and operations currently concentrated primarily between
Tallahassee and Destin, Florida. The Company uses these assets in
its residential or commercial real estate developments, resorts and
leisure operations, leasing operations or its forestry operations.
More information about the Company can be found on its website at
www.joe.com.
© 2015, The St. Joe Company. "St. Joe®", "JOE®", the "Taking
Flight" Design®, "St. Joe (and Taking Flight Design)®" are
registered service marks of The St. Joe Company.
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version on businesswire.com: http://www.businesswire.com/news/home/20150928005333/en/
Investor Relations:The St. Joe CompanyMarek Bakun,
1-866-417-7132Chief Financial OfficerMarek.Bakun@Joe.Com
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