St Joe Company (JOE)

[Enterprising Investor]

The St. Joe Company Announces Preliminary Results of Tender Offer (9/23/15)

WATERSOUND, Fla.--(BUSINESS WIRE)--The St. Joe Company (NYSE: JOE) announced today the preliminary results of its tender offer, which expired at 5:00 p.m., New York City time, on September 22, 2015.

Based on a preliminary count by the depositary, the total number of shares tendered and not validly withdrawn in the offer is 16,497,078. Of the total shares tendered, 888,992 were tendered pursuant to the guaranteed delivery procedure described in the Company’s Offer to Purchase. Tenders made pursuant to the guaranteed delivery procedure will be accepted upon receipt of the related stock certificates or confirmation of book entry transfer, along with any other required documentation, within three business days after the notice of guaranteed delivery was delivered to the depositary. Based on the preliminary count, the Company expects to purchase 16,497,078 properly tendered shares at $18.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, for a total purchase price of approximately $296.9 million.

The actual number of shares to be purchased is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. The actual number of shares will be announced promptly following completion of the verification process. Payment for shares accepted and the return of all shares tendered but not accepted will occur promptly after determination of the number of shares properly tendered.

D.F. King & Co., Inc. acted as information agent for the tender offer and American Stock Transfer & Trust Company, LLC acted as the depositary. All inquiries about the tender offer should be directed to D.F. King & Co., Inc. at [phone] (Toll Free) or [phone] (Collect).

http://www.businesswire.com/news/home/20150923005410/en/St.-Joe-Company-Announces-Preliminary-Results-Tender#.VgKkWDZdGUk