CTSI Commences Tender Offer to Purchase Common Stock of AFA Protective Systems, Inc.
CHANTILLY, Va. and SYOSSET, N.Y., Sept. 14, 2021 /PRNewswire/ -- APS Acquisitionco, Inc., a wholly-owned subsidiary of Corbett Technology Solutions, Inc. (CTSI), announced today that it has commenced a tender offer to purchase all the outstanding shares of common stock of AFA Protective Systems, Inc. (OTCMKTS: AFAP), at a price of $743.50 per share.
On September 1, 2021, the last full trading day prior to announcement of the transaction, the sale price of AFAP's shares reported on OTCMKTS was $106.50. Following the consummation of the tender offer, APS Acqusitionco, Inc. will be merged with and into AFAP with AFAP as the surviving corporation.
This tender offer will expire on October 26, 2021 at midnight (one minute after 11:59 p.m.), New York time, unless extended. Tenders of AFAP's common stock must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. Each outstanding share of common stock outstanding immediately prior to the merger, will be converted into the right to receive the offer price without interest thereon and less any required withholding taxes.
This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell or purchase shares of AFAP's common stock. Thetender offer is being made pursuant to the Agreement and Plan of Merger, Offer to Purchase and other related materials that AFAP is sending or making available to its stockholders. The tender offer materials contain important information that should be read carefully before any decision is made with respect to the tender offer.
About AFA Protective Systems
Additional information about AFA is available at www.afap.com
Additional information about CTSI is available at www.ctsi-usa.com
All shareholders, those who hold through registered name or via a broker, will receive hard copies of the materials shortly.
If you have not received materials, please contact the information agent below:
The tender period began the morning of September 14, 2021 and will expire at midnight (one minute after 11:59 pm) on October 26, 2021
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