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IEC Electronics Corp. and Creation Technologies Inc. jointly announced that CTI Acquisition Corp., an entity controlled by Creation, had extended the offering period of the previously commenced cash tender offer by Merger Sub to purchase all of the issued and outstanding shares of common stock of IEC to 5:00 p.m., New York City time, on September 30, 2021, unless further extended. The tender offer was previously scheduled to expire at the end of the day, at midnight, New York City time, on September 23, 2021.
As contemplated by the terms of the merger agreement, Creation has extended the offering period because less than two-thirds of IEC’s shares have been tendered. Computershare Trust Company, N.A., the depositary for the tender offer, has advised Creation that, as of 6:00 p.m., New York City time, on September 23, 2021, 6,406,629 shares of common stock of IEC, representing approximately 60.0% of the issued and outstanding IEC shares, were tendered pursuant to the tender offer. Stockholders who have already tendered their shares of common stock of IEC do not have to re-tender their shares or take any other actions as a result of the extension of the expiration of the tender offer.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.