Hunter Maritime released the results of their Extension Tender Offer this morning, revealing that a total of 12,999,350 Class A common shares were tendered for a total purchase price of $131,618,418.75. This represents approximately 86% of the Company’s issued and outstanding Class A common shares as of November 6, 2018.
Hunter’s Maritime’s stated cash in trust value prior to this offering was $153,627,637, so less fees and expenses related to the tender offer, Hunter’s new cash in trust value should be approximately $21 million. The good news for Hunter is, they now have until April 23rd to complete their business combination with NCF Wealth Holdings.
We’ll be looking for additional materials related to the combination, hopefully to be filed shortly.