Hunter Maritime Launches Tender Offer to Complete Merger with NCF

dollarllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Marshall Islands-based special purpose acquisition company Hunter Maritime Acquisition Corp. has commenced a tender offer to complete a merger with Chinese fintech company NCF Wealth Holdings Limited.

As explained, the tender offer is being made pursuant to the company’s organizational documents, which require that in connection with the merger, Hunter provides its shareholders with the opportunity to redeem their Class A common shares for a pro rata portion of its trust account.

The company will purchase up to 2,173,750 of its Class A common shares, par value USD 0.0001 per share, at a purchase price of USD 10.215 per Class A common share. The shares are currently listed on the Nasdaq Capital Market under the symbol “HUNT.”

The tender offer will expire at 5:00 p.m. New York City time on March 15, 2019, unless extended or earlier terminated by Hunter Maritime.

Hunter Maritime said that its obligation to purchase Class A common shares is subject to the satisfaction of certain conditions. Class A common shares tendered but not purchased by the company in the tender offer will be returned promptly following the expiration of the offer.

According to Hunter Maritime, CMB NV — the company’s sponsor — and members of the company’s management team have agreed with Hunter to waive their redemption rights in connection with the tender offer and the merger with respect to any Class A common shares they acquired in or after the IPO.

Under the deal signed on October 5, a wholly-owned subsidiary was established with the aim to acquire NCF by way of merger in an all-stock transaction. The merger is expected to be completed by the end of April 2019.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

Salvage & Wreck

Salvage and Wreck Removal Conference will focus on Casualty management case studies, Dealing with hazardous cargo and container ship fires…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >