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Monday, August 15, 2022 7:38:54 PM
The Offer expired at 12:00 Midnight on Friday, August 12, 2022. The Depositary has advised that, as of the Expiration Time, 2,206,889 Shares (including 100,966 Shares subject to notices of guaranteed delivery) were validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 90.2% of the issued and outstanding Shares as of June 30, 2022.
The aggregate number of Shares validly tendered and not properly withdrawn pursuant to the Offer satisfies the Minimum Condition that at least 856,329 Shares be validly tendered and not properly withdrawn prior to the expiration of the Offer. Accordingly, Purchaser has accepted for payment in accordance with the terms of the Offer 1,108,000 Shares that were validly tendered and not properly withdrawn pursuant to the Offer, and payment for such Shares will be made promptly in accordance with the terms of the Offer.
The number of Shares validly tendered and not properly withdrawn pursuant to the Offer exceeded the maximum tender amount of 1,108,000 Shares. Since the Offer was oversubscribed, the number of Shares purchased from each of the tendering stockholders will be prorated to limit Purchaser’s purchase to 1,108,000 Shares, representing approximately 45.0% of the Shares issued and outstanding as of June 30, 2022. The estimated proration factor, based on information reported by the Depositary, is approximately 50.2% of the tendered Shares (including Shares tendered in accordance with the guaranteed delivery procedures.
https://www.sec.gov/Archives/edgar/data/1133062/000114036122029642/ny20005045x1_sctota.htm
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