Bexil Corporation Announces Tender Offer

Rhea-AI Summary

Bexil Corporation (OTC PINK: BXLC) has announced a tender offer inviting shareholders to sell their shares for $15.00 each, up to an aggregate of 40,000 shares. The offer is set to expire on December 23, 2020, at 5:00 p.m. ET. Shareholders are encouraged to review the offer details carefully and consult with their financial advisors before deciding to participate. The board of directors has approved the offer but does not make any recommendation regarding tendering shares. The tender offer is not an offer to purchase shares in jurisdictions where it would violate local laws.

Positive

• Tender offer price of $15.00 per share may provide liquidity for shareholders.
• Aggregate of 40,000 shares allows a significant number of shares to potentially be tendered.

Negative

• The lack of recommendation from the board may create uncertainty for shareholders.
• Tender offers can sometimes be a sign of financial distress or an attempt to consolidate ownership.

News Market Reaction – BXLC

+9.00%

+9.00% Session move

In the trading session that priced this news, BXLC gained 9.00%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, NY / ACCESSWIRE / November 23, 2020 / Bexil Corporation (OTC PINK:BXLC) ("Bexil" or the "Company") today announced that it invites its shareholders to tender for $15.00 per share up to an aggregate of 40,000 shares of the Company's common stock. Shareholders may participate in the offer by tendering any or all of their shares, subject to the proration provisions and other limitations of the offer, as described in the offer to purchase. The offer to purchase and withdrawal rights will expire on December 23, 2020 at 5:00 p.m. ET unless the offer to purchase is extended or earlier terminated.

The offer to purchase and other tender offer materials are being furnished to shareholders of the Company and also may be obtained at www.Bexil.com. With questions or requests for assistance please call the Company at 212-785-0900 or write to Bexil Corporation, 11 Hanover Square, New York, NY 10005, Attn: Secretary. Shareholders may also contact the broker, dealer, commercial bank, or trust company who holds their shares for assistance concerning the offer.

The Company's board of directors has approved the offer. However, neither the Company nor the board of directors makes any recommendation as to whether a shareholder should tender or refrain from tendering his or her shares, and neither the Company nor the board of directors has authorized any person to make any such recommendation. Shareholders are urged to evaluate carefully all information contained in the offer to purchase, consult their own investment and tax advisors, and make their own decision whether to tender shares and, if so, how many shares to tender.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY. THIS ANNOUNCEMENT IS NOT AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO PURCHASE ANY COMPANY SHARES. THE TENDER OFFER IS BEING MADE SOLELY PURSUANT TO THE OFFER TO PURCHASE AND RELATED DOCUMENTS. THE TENDER OFFER IS NOT BEING MADE IN ANY JURISDICTION IN WHICH THE MAKING OR ACCEPTANCE THEREOF WOULD NOT BE IN COMPLIANCE WITH THE SECURITIES, BLUE SKY OR OTHER LAWS OF SUCH JURISDICTION.

About Bexil Corporation

Bexil is primarily engaged through a subsidiary in investment management. Information about the business of the Company and its subsidiaries, and the Company's financial condition and results of operations, may be obtained from the Company's Combined 2020 Proxy Statement, 2019 Annual Report and the Company's press releases announcing its first, second, and third quarter 2020 financial results available at www.Bexil.com.

Safe Harbor Note

This release contains certain "forward looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Bexil, which may cause the Company's actual results to be materially different from those expressed or implied by such statements. Investors should carefully consider the risks, uncertainties and other factors, together with all of the other information included in the Company's Annual Report, at http://www.bexil.com/cautionary-language.html, and similar information. The forward looking statements made herein are only made as of the date of this release, and the Company undertakes no obligation to publicly update such forward looking statements to reflect subsequent events or circumstances.

Contact:
Russell Kamerman
Secretary
1-212-785-0900
rkamerman@bexil.com
www.Bexil.com

SOURCE: Bexil Corporation

View source version on accesswire.com:
https://www.accesswire.com/617875/Bexil-Corporation-Announces-Tender-Offer

FAQ

What is the tender offer price for Bexil Corporation shares?

The tender offer price is $15.00 per share.

How many shares can be tendered in Bexil Corporation's offer?

Shareholders may tender up to an aggregate of 40,000 shares.

When does the tender offer for Bexil Corporation expire?

The tender offer will expire on December 23, 2020, at 5:00 p.m. ET.

Has the board of directors of Bexil Corporation made any recommendations regarding the tender offer?

No, the board has not made any recommendations on whether shareholders should tender their shares.

Where can I find more information about the Bexil Corporation tender offer?

More information can be found on Bexil Corporation's official website.