CALIFORNIA FIRST LEASING CORPORATION ANNOUNCES PRELIMINARY RESULTS OF TENDER OFFER
California First Leasing Corporation (OTCQX: CFNB) has announced the preliminary results of its tender offer to purchase up to 330,000 shares of its common stock at $18.50 per share. The tender offer, which expired on June 24, 2025, was oversubscribed with 669,285 shares properly tendered.
The company will purchase the shares on a pro rata basis with a preliminary proration factor of approximately 49.3%, except for odd lots which were accepted in full. The total cost of the purchase will be approximately $6.1 million, excluding fees and expenses. The accepted shares represent about 3.5% of CFNB's outstanding common stock.
California First Leasing Corporation (OTCQX: CFNB) ha annunciato i risultati preliminari della sua offerta pubblica di acquisto per un massimo di 330.000 azioni ordinarie al prezzo di 18,50 $ per azione. L'offerta, scaduta il 24 giugno 2025, è stata sovrasottoscritta con 669.285 azioni correttamente presentate.
L'azienda acquisterà le azioni su base proporzionale con un fattore di ripartizione preliminare di circa il 49,3%, ad eccezione dei lotti irregolari che sono stati accettati integralmente. Il costo totale dell'acquisto sarà di circa 6,1 milioni di dollari, esclusi oneri e spese. Le azioni accettate rappresentano circa il 3,5% del capitale sociale ordinario in circolazione di CFNB.
California First Leasing Corporation (OTCQX: CFNB) ha anunciado los resultados preliminares de su oferta pública de compra para adquirir hasta 330,000 acciones comunes a $18.50 por acción. La oferta, que expiró el 24 de junio de 2025, fue sobresuscrita con 669,285 acciones debidamente presentadas.
La empresa comprará las acciones de manera prorrateada con un factor preliminar de prorrateo de aproximadamente el 49.3%, excepto los lotes impares que fueron aceptados en su totalidad. El costo total de la compra será aproximadamente de $6.1 millones, excluyendo tarifas y gastos. Las acciones aceptadas representan alrededor del 3.5% del capital social común en circulación de CFNB.
California First Leasing Corporation (OTCQX: CFNB)는 최대 330,000주의 보통주를 주당 $18.50에 매입하는 공개 매수의 예비 결과를 발표했습니다. 이 공개 매수는 2025년 6월 24일에 만료되었으며, 669,285주가 적법하게 제출되어 초과 신청되었습니다.
회사는 약 49.3%의 예비 배분 비율로 비례 배분 방식으로 주식을 매입할 예정이며, 소수주(odd lots)는 전량 수용됩니다. 매입 총 비용은 수수료 및 비용을 제외하고 약 610만 달러에 달할 것입니다. 수용된 주식은 CFNB의 발행 보통주 중 약 3.5%에 해당합니다.
California First Leasing Corporation (OTCQX : CFNB) a annoncé les résultats préliminaires de son offre publique d'achat visant à acquérir jusqu'à 330 000 actions ordinaires au prix de 18,50 $ par action. L'offre, qui a expiré le 24 juin 2025, a été sursouscrite avec 669 285 actions dûment proposées.
La société achètera les actions au prorata avec un facteur de proratisation préliminaire d'environ 49,3%, à l'exception des lots impairs qui ont été acceptés en totalité. Le coût total de l'achat sera d'environ 6,1 millions de dollars, hors frais et dépenses. Les actions acceptées représentent environ 3,5% des actions ordinaires en circulation de CFNB.
California First Leasing Corporation (OTCQX: CFNB) hat die vorläufigen Ergebnisse seines Übernahmeangebots zum Kauf von bis zu 330.000 Aktien seiner Stammaktien zu 18,50 $ pro Aktie bekannt gegeben. Das Übernahmeangebot, das am 24. Juni 2025 ablief, war überzeichnet, da 669.285 Aktien ordnungsgemäß eingereicht wurden.
Das Unternehmen wird die Aktien anteilig mit einem vorläufigen Quotierungsfaktor von etwa 49,3% kaufen, wobei Ausnahme für ungerade Stückzahlen gilt, die vollständig akzeptiert wurden. Die Gesamtkosten des Kaufs belaufen sich auf etwa 6,1 Millionen Dollar, ohne Gebühren und Ausgaben. Die akzeptierten Aktien entsprechen etwa 3,5% des ausstehenden Stammkapitals von CFNB.
- None.
- Only 49.3% of tendered shares will be accepted due to oversubscription
- Significant cash outlay of $6.1 million reduces company's available capital
Based on the preliminary count by Computershare Trust Company, N.A, the depositary for the tender offer, the tender offer was oversubscribed and a total of 669,285 shares of CalFirst Leasing's common stock,
In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, CalFirst Lease has accepted for purchase 330,000 shares of Common Stock on a pro rata basis, except for tenders of odd lots, which were accepted in full. At a price of
The number of shares to be purchased are preliminary and subject to change. The preliminary information contained in this release is subject to confirmation by the depositary. The final number of shares of Common Stock to be purchased will be announced following the completion by the depositary of the confirmation process. Payment for Common Stock accepted for purchase under the tender offer, and return of all other shares tendered and not purchased, will occur promptly thereafter.
The information in this release is for informational purposes only and does not constitute an offer to purchase nor a solicitation of an offer to sell shares of CalFirst Lease Common Stock. The tender offer was made only pursuant to the offer to purchase dated May 20, 2025 and the related documents that were filed with the Securities and Exchange Commission (the "SEC"). Stockholders who have questions or would like additional information about the tender offer may contact the information agent, Georgeson LLC, at (888) 826-6570. In addition, all of the materials and all other offer documents filed are available at no charge on the SEC's website at www.sec.gov.
California First Leasing Corporation registered as an internally managed non-diversified closed-end investment company under the Investment Company Act of 1940, as amended, in February 2022. The Company retains its lease business while using equity and other investments to maximize current income and generate capital appreciation.
This release contains forward-looking statements, such as references to the completion of the tender offer, the number of shares of Common Stock expected to be purchased, the estimated proration factor and the payment for shares of Common Stock pursuant to the tender offer. These statements, including their underlying assumptions, are subject to risk and uncertainties and are not guarantees of future performance. Results may differ due to various factors, such as the possibility that conditions to completion of the tender offer are not satisfied or the proration factor was inadvertently miscalculated. For further details of these risks, you should read our filings with the SEC, including our Schedule TO and other documents which have been filed with the SEC.
The statements presented in this release speak only as of the date of the release. Except as otherwise required by applicable law, the Company does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof.
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SOURCE California First Leasing Corporation
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