Not sure but it seems that if Baker Mills exercises their option, commons should survive. Anybody want to add ?
Baker Mills LLC Amends Its Offer to Purchase Shares of SEARS Holdings Corporation
February 28, 2019 16:06 ET | Source: Baker Mills LLC
WILMINGTON, Del., Feb. 28, 2019 (GLOBE NEWSWIRE) -- Baker Mills LLC (Baker Mills) announced today that it has amended the terms of its offer, dated January 28, 2019, to purchase up to 5,000,000 shares of common stock of SEARS Holdings Corporation (the “Company”) at a price of $0.01 (the “Offer”) so that:
the number of shares to be purchased is amended to 1,000,000, or such lesser number of shares as may be properly tendered and not properly withdrawn, subject to the terms and conditions of the Offer;
the price per share is amended to $0.50 (“Amended Offer Price”);
the offer is extended until 5:00 pm New York City time on March 15, 2019, unless further extended or earlier terminated.
As of the close of business on Wednesday, 27 February, 2019, 1,173 shares had been tendered.
Baker Mills will accept for payment and will pay, at the Amended Offer Price, for all shares validly tendered prior to the expiration time and not properly withdrawn in accordance with the terms of the Offer.
Stockholders of the Company who have already tendered their shares, have not withdrawn such shares, and who do not wish to elect to withdraw such shares in accordance with the Offer, need not take any additional action with respect to Baker Mills’ amended Offer. These stockholders will receive the Amended Offer Price of $0.50 per share.
Baker Mills has amended its Offer to Purchase to reflect the amendment of the number of Shares to be purchased, the Amended Offer Price and the extension of the Offer.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NEITHER AN OFFER TO PURCHASE NOR A SOLICITATION OF AN OFFER TO SELL SHARES. THE OFFER IS MADE SOLELY BY THE OFFER TO PURCHASE, DATED JANUARY 28, 2019, THE RELATED LETTER OF TRANSMITTAL, AND ANY AMENDMENTS THERETO. STOCKHOLDERS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER.
STOCKHOLDERS CAN OBTAIN A COPY OF THE OFFER TO PURCHASE AND LETTER OF TRANSMITTAL, AND ANY AMENDMENTS THERETO, FROM, AND MEDIA ENQUIRIES SHOULD BE DIRECTED TO, THE INFORMATION AGENT FOR THE OFFER, NEVADA AGENCY AND TRANSFER COMPANY, AT (775) 322-0130.
AI
