GenNx360 Capital Partners has increased its acquisition offer for GVI Security Solutions Inc. (OTC BB: GVSS), from $0.38 per share to $0.3875 per share in cash. GVI is a Carrolton, Texas-based provider of video security surveillance solutions.
GVI Security Solutions, Inc. (OTC Bulletin Board: GVSS) (“GVI”), GenNx360 GVI Holding, Inc. and its wholly-owned subsidiary, GenNx360 GVI Acquisition Corp., today announced that, in connection with the existing tender offer to purchase all of the common stock of GVI as set forth in the Offer to Purchase dated November 3, 2009, GenNx360 GVI Acquisition Corp. has increased the purchase price of the shares from $0.38 per share to $0.3875 per share, net to the seller, in cash. All references in the Letter of Transmittal to the price of $0.38 per share shall be deemed to refer to the increased price of $0.3875 per share. Accordingly, if you have already tendered your shares, there is no need for you to submit another Letter of Transmittal in order to receive the increased price.
If you have not yet tendered your shares, you will receive the increased price if you submit the Letter of Transmittal that you received with the original tender offer materials.
The deadline for tendering the shares in the offering has been extended from 12:00 midnight New York City time at the end of Thursday, December 3, 2009, to 12:00 midnight, New York City time at the end of Tuesday, December 8, 2009, unless further extended.
Shareholders with questions about the tender offer may call MacKenzie Partners, Inc., the Information Agent, toll-free at (800) 322-2885.
GenNx360 GVI Acquisition Corp. is an indirect wholly-owned subsidiary of GenNx360 Capital Partners. Each of GenNx360 GVI Holding, Inc. and GenNx360 GVI Acquisition Corp. was formed for the purpose of entering into a business combination transaction with GVI Security Solutions, Inc. and has not carried on any business activities other than in connection with the tender offer and proposed merger.