Investors…you’re ship has come in.
Hunter Maritime, just announced they have revised their Extension Tender Offer and “corrected course”. In fact, there hasn’t been a ship so off course since Columbus hit the Caribbean looking for China. Turns out that was a good find, but Hunter is turning it around by increasing the purchase price in their Tender offer from $10.00 to $10.125, essentially replacing the interest that was previously withdrawn from the Trust.
Additionally, Hunter will ALSO be contributing $0.03 for each public share that is not purchased in the Extension Tender Offer for each calendar month commencing on November 23, 2018 (their current completion deadline) until the Extended Date (April 23rd), or until they complete their deal. That means, if Hunter takes the full extension, the pro rata amount per share in trust could potentially be $10.275.
This is a great conciliatory gesture on the part of the Hunter team and should go a long way in mending fences with their investors. The extension vote is next week – October 31st – so hopefully we get some additional information soon on their target, NCF Wealth Holdings, a fintech company in China.
It took a while to find the right route, but Hunter has a much better shot now than Columbus ever did.