NEW YORK, NY / ACCESSWIRE / August 10, 2018 / Bexil Corporation (OTC PINK: BXLC) ("Bexil" or the "Company") is pleased to announce today the results of its tender offer, which expired at 5:00 p.m. ET on August 9, 2018.
Based on the final count by Securities Transfer Corporation, the depositary for the tender offer, Bexil accepted for payment an aggregate of 25,000 shares at a purchase price of $13.25 per share. Because the number of shares tendered exceeded the aggregate number of shares offered for purchase under the terms of the tender offer, shares were accepted for purchase in the order of priority as set forth in the tender offer materials. The depositary will promptly pay for all the shares accepted for payment and will return all other shares tendered.
Bexil may purchase additional shares in the future in the open market subject to market conditions, or in private transactions, exchange offers, tender offers or otherwise. Whether the Company makes additional repurchases in the future will depend on many factors, including the market price of the shares, the Company's business and financial condition and general economic and market conditions.
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.
About Bexil Corporation
Bexil is primarily engaged through a subsidiary in investment management. To learn more about Bexil, including Rule 15c2-11 information, please visit 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.
SOURCE: Bexil Corporation