Creation and IEC Electronics Corp. announce an extension of the public tender offer

0

NEWARK, NY and BOSTON, October 01, 2021 (GLOBE NEWSWIRE) – IEC Electronics Corp. (NASDAQ: IEC) (“IEC”) and Creation Technologies Inc. (“Creation”) jointly announced today that CTI Acquisition Corp. (“Merger Sub”), an entity controlled by Creation, had extended the offer period of the cash tender offer previously started by Merger Sub to purchase all of the issued and outstanding shares of IEC common stock until 5:00 p.m. New York City time on October 4, 2021, unless further extended. The takeover bid was previously scheduled to expire at 5:00 p.m. New York time on September 30, 2021.

As provided for by the terms of the merger agreement, Creation has chosen to extend the offer period to finalize the financing of the transaction. Computershare Trust Company, NA, the custodian of the takeover bid, informed Creation that at 5:00 p.m. New York time on September 30, 2021, 7,483,017 common shares of IEC, representing approximately 70. 1% of the issued and outstanding IEC shares were deposited as part of the public tender offer. Shareholders who have already tendered their ordinary shares of IEC do not have to surrender their shares or take any other action following the extension of the expiry of the tender offer.

Creation expects that the tender offer will be consumed promptly after the expiration of the offer period (as hereby extended), subject to satisfaction or waiver of the remaining conditions until. consumer takeover bid set out in the merger agreement.

DF King & Co., Inc. is the information agent for the tender offer and any questions or requests for a tender offer and related documents relating to the tender offer may be directed to them. by telephone, toll-free, at (800) 848-2998, if a shareholder, or by calling (212) 269-5550, if bank or broker.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be illegal.

About IEC electronics

IEC Electronics is an Electronic Manufacturing Services (“EMS”) provider to leading technology companies that produce vital and critical products for the medical, industrial, aerospace and defense industries. The company specializes in providing technical solutions for the bespoke fabrication of complex complete system assemblies by providing on-site analytical testing laboratories, custom test design and engineering services combined with a wide range manufacturing services encompassing electronics, interconnect solutions and precision metalworking. As a full EMS service provider, IEC holds all the appropriate certifications for the market sectors it supports including ISO 9001: 2015, AS9100D, ISO 13485 and is Nadcap accredited. IEC Electronics is headquartered in Newark, NY and also has operations in Rochester, NY and Albuquerque, NM. Additional information about IEC is available on its website at www.iec-electronics.com.

About Creative Technologies

Creation provides complete product lifecycle solutions including turnkey design, rapid prototyping, manufacturing and execution to customers around the world. Since 1991, Creation has strived to make it easy for OEMs to “say yes” to their customers. The company of approximately 3,100 people operates ten manufacturing sites, two design centers and a rapid prototyping center in the United States, Canada, Mexico and China. Its OEM customers are in the aerospace and defense, medical and technology industries. Additional information about Creation can be found on its website at www.creationtech.com.

Additional information and where to find it
Important additional information

This press release is neither an offer to buy nor a solicitation of an offer to sell IEC common shares or any other security. This communication is for informational purposes only. The tender offer transaction which began on August 26, 2021 by the affiliates of Creation is being carried out in accordance with a tender offer statement set out in Annex TO (including the tender offer , a related letter of transmittal and other offering documents) filed by these Affiliates of Creation. with the United States Securities and Exchange Commissions (“SEC”). In addition, IEC has filed a related solicitation / recommendation statement on Schedule 14D-9 with the SEC. The offer to purchase IEC common shares is only made pursuant to the offer to purchase, letter of transmittal and related offering documents filed as part of the declaration of ‘public offering in Annex TO, in each case as amended from time to time. . THE MATERIALS OF THE OFFER TO TENDER (INCLUDING THE OFFER TO PURCHASE, RELATED LETTER OF TRANSMITTAL AND OTHER DOCUMENTS) AND THE STATEMENT OF SOLICITATION / RECOMMENDATION AT ANNEX 14D-9 CONTAIN IMPORTANT INFORMATION. BEFORE MAKING ANY DECISION CONCERNING THE OFFER TO PURCHASE, IT IS STRONGLY ADVISED THAT IEC SHAREHOLDERS READ CAREFULLY THE OFFER TO TAKE STATEMENT CONTAINED IN THE TIMETABLE OF (INCLUDING THE OFFER TO PURCHASE, LETTER D). ‘RELATED SHIPMENT AND OTHER DOCUMENTS RELATING TO THE OFFER TO OFFER) AND THE RELATED OFFER TO PURCHASE ANNEX 14D-9, AS DEPOSITED AND AS SUBJECT TO CHANGE FROM TIME TO TIME. IEC shareholders can obtain the public tender offer statement on Schedule TO (including the tender offer, related letter of transmittal and other offer documents) and the statement free of charge. Solicitation / Recommendation on Schedule 14D-9 on the SEC’s website at www. sec.gov. In addition, the tender offer statement on Annex TO (including the offer to purchase, related letter of transmittal and other offer documents) and related solicitation / recommendation statement on Schedule 14D-9 can be obtained free of charge from the Information Agent for the Takeover Offer, DF King & Co., Inc., 48 Wall Street, 22sd Floor, New York, New York 10005, telephone number (800) 848-2998, if a shareholder, by (212) 269-5550, if a bank or broker.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you may identify forward-looking statements by words such as “may”, “will”, “should”, “expect,” “” Believes “or other similar words or expressions. These forward-looking statements include, without limitation, statements regarding the expected timing of the closing of the transaction, the ability to meet the closing conditions, the development of any other acquisition proposal, including any superior proposal, the approval or completion of the transaction or any other transaction, and any statements that are not based on historical facts. The ultimate accuracy of these forward-looking statements depends on a number of known and unknown risks and events and is subject to various uncertainties and other factors that may cause IEC actual results, performance or achievements. or Creation are materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The following important factors, among others, could affect future results and events, causing such results and events to differ materially from the opinions expressed or implied in the forward-looking statements: the risk that the conditions of the closing of the transaction are not fulfilled, including the risk that a sufficient number of IEC shareholders will not participate in the transaction; the risk that the merger agreement relating to the transaction will be terminated; potential disputes relating to the transaction; failure to comply with other conditions until the transaction is completed; the failure of Creation to provide the necessary funding; the risks that the takeover bid and related transactions will disrupt current plans and operations and potential employee retention difficulties as a result of the proposed transactions; the effects of local and national economic, credit and capital market conditions on the economy in general; uncertainties as to the timing of the transaction and the ability of each party to complete the transaction. For a further list and description of the various risks, relevant factors and uncertainties that could cause future results or events to differ materially from those expressed or implied in our forward-looking statements, see IEC’s annual report on Form 10 -K, its quarterly reports on Form 10-Q and its other documents filed with the Securities and Exchange Commission.

All forward-looking statements included in this press release are made only as of the date indicated or the date of this press release. Neither IEC nor Creation undertakes to update or revise forward-looking statements to reflect events or circumstances which subsequently occur or of which we have subsequently become aware, except as required by law. These forward-looking statements should not be taken as representing the views of IEC or Creation as of any date subsequent to the date of this press release.

IEC contact:

Thomas L. Barbato

Senior Vice President and Chief Financial Officer

IEC Electronics Corp.

(315) 332-4493

[email protected]

Agency contact:

John Nesbett / Jennifer Belodeau

IMS Investor Relations

(203) 972-9200

[email protected]

Creation contact:
Craig conrad
Vice President Marketing and Communication
Creation Technologies Inc.
(508) 446-3492
[email protected]


Source link

Share.

Leave A Reply