American Industrial Partners extends tender offer to acquire SEACOR

American Industrial Partners has extended its tender offer to acquire SEACOR at $41.50 per share.

American Industrial Partners has extended its tender offer to acquire SEACOR at $41.50 per share. The tender offer will expire March 19, 2021. Based in Fort Lauderdale, Florida, SEACOR is a marine services busines.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–American Industrial Partners has announced that Safari Merger Subsidiary, Inc. (“Purchaser”), an affiliate of American Industrial Partners, has extended until 5:00 p.m. Eastern Time on Friday, March 19, 2021 the expiration time for its previously announced cash tender offer to purchase all of the outstanding shares of common stock (the “Shares”) of SEACOR Holdings Inc. (NYSE: CKH) (“SEACOR”) at a price of $41.50 per share.

The tender offer, which was previously scheduled to expire at 5:00 p.m., Eastern Time, on March 12, 2021, was extended to allow additional time to meet the minimum tender condition that shares actually delivered (excluding shares tendered pursuant to guaranteed delivery procedures) represent at least 66 2/3% of all outstanding Shares.

Purchaser is ready to close the transaction and, assuming that 66 2/3% of outstanding Shares are tendered, Purchaser expects that closing and payment for the Shares will occur promptly after the expiration date of March 19, 2021.

American Industrial Partners and Purchaser are pleased with the significantly increased number of Shares that were tendered as of last Friday, March 12, 2021, providing good momentum to reach the minimum tender condition and close the transaction.

American Stock Transfer & Trust Company, LLC, the depository for the tender offer, has indicated that, as of the prior expiration time, a total of approximately 7,955,148 Shares, representing approximately 38.05% of the outstanding Shares, had been validly tendered. The amount tendered includes approximately 3,445,517 Shares delivered pursuant to guaranteed delivery procedures that had been validly tendered pursuant to the tender offer.

Shareholders are reminded that Shares tendered by guaranteed delivery do not count toward achieving the 66 2/3% minimum tender condition. Shareholders who have already tendered their Shares do not have to re-tender their Shares or take any other action as a result of the extension of the tender offer.

The tender offer is being made pursuant to the tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other offer documents) in the Tender Offer Statement on Schedule TO (together with any amendments or supplements thereto, the “Tender Offer Statement”) filed by Purchaser and its affiliates with the United States Securities and Exchange Commission on December 18, 2020, as amended.

About American Industrial Partners
American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, American Industrial Partners has completed over 100 transactions and currently has more than $7 billion of assets under management on behalf of leading pension, endowment and financial institutions. For more information on American Industrial Partners, visit www.americanindustrial.com.