Monday, 4 Mar 2024

Colt Defense LLC Announces Expiration and Results of Tender Offer for 8.00% Fourth Priority Secured Notes Due 2021 and Related Consent Solicitation


Colt Defense LLC (the “Company”) announced today that as of 5:00 p.m., New York City time, on May 15, 2020 (the “Expiration Time”), holders of $2,838,767 aggregate principal amount, or approximately 33.49% of the outstanding principal amount, of its outstanding 8.00% Fourth Priority Secured Notes Due 2021 (the “Notes”) had tendered their Notes pursuant to the Company’s previously announced tender offer and related solicitation of consents from holders of the Notes (the “Offer”). The complete terms and conditions of the Offer are detailed in the Company’s Offer to Purchase and Consent Solicitation Statement dated March 2, 2020 and the related Letter of Transmittal (together, the “Offer Documents”), copies of which were previously distributed to eligible holders of the Notes. The Company did not receive the Required Consents (as defined in the Offer Documents) from holders of the Notes to certain amendments to the indenture governing the Notes. Therefore, the indenture governing the Notes will not be amended.

The Company currently expects that it will accept for payment all of the Notes validly tendered through the Depository Trust Company on or about May 18, 2020. Upon settlement, each holder who validly tendered their Notes prior to 5:00 p.m., New York City time, on April 10, 2020 (the “Early Tender Time”) will receive the total consideration of $0.25 per $1.00 principal amount of the Notes tendered, which includes $0.225 as the tender offer consideration and $0.025 as an early tender payment, and each holder who validly tendered their Notes after the Early Tender Time but on or prior to the Expiration Time will receive the tender offer consideration of $0.225 per $1.00 principal amount of the Notes, but will not receive the early tender payment. Eligible holders of Notes will not be entitled to receive any cash payment with respect to accrued and unpaid interest on Notes accepted for purchase and any such accrued interest will be forfeited, as the per $1.00 principal amount ratio with respect to the Offer has been calculated to take account of accrued interest through the settlement of the Offer.

This announcement shall not constitute an offer to purchase or a solicitation of an offer to sell any securities. The complete terms and conditions of the Offer for the Notes were set forth in the Offer Documents. The Company’s Offer was made only through, and subject to the terms and conditions set forth in, the Offer Documents and related materials.

Ipreo LLC acted as Solicitation Agent and Information Agent for the Offer for the Notes. Questions regarding the Company’s Offer or requests for the Offer Documents may be directed to Ipreo LLC at (212) 849-3880 (for banks and brokers) or (888) 593-9546 (for all others).

About Colt Defense LLC

Colt Defense LLC, a Delaware limited liability company, with predecessors dating back to 1836, is one of the world’s oldest designers, developers and manufacturers of firearms for military, personal defense and recreational purposes. The Company’s product lines include handguns (pistols and revolvers), long guns & regulated offerings (global military and law enforcement products) and a range of firearms-related parts, training, services and brand licensing. The Company’s end customers encompass every segment of the firearms market, including U.S., Canadian and foreign military forces, global law enforcement and security agencies, consumers seeking personal protection, the hunting and sporting community and collectors.

Cautionary Statement on Forward-Looking Statements

Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to us as of the date of the release, and we assume no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk to Non-Tendering Holders; Special Considerations” and “Forward-Looking Statements” in the Offer Documents for more information.

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For Media Inquiries: Caitlin Kehoe, [email protected]

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