Advanced bus corridor commentary on TRC Capital “Mini-Tender ” Offer

  • Advance bus corridor, Inc.( NYSE AAP), a leading automotive aftermarket corridor provider in North America, that serves both professional installers and do-it-yourself guests, has been notified that TRC Capital Investment Corporation( TRC) has made an unasked “mini-tender ” offer to buy up to shares of Advance Auto Parts stock at$65.75 per share, or4.43 per cent below the ending price of the company’s stock on July 10, 2023, the last trading day before the date of the offer. As of the moment, TRC’s offer price is 6.9 per cent below the ending price of the company’s stock on July 14, 2023. Advanced bus corridor is in no way associated with TRC and expresses no opinion on TRC’s “mini-tender ” offer.

Mini-tender offers to seek to acquire lower than five per cent of a company’s outstanding shares, thereby avoiding numerous exposure and procedural conditions underU.S. civil securities laws and the rules and regulations of theU.S. Securities and Exchange Commission( SEC). As a result,mini-tender offers don’t give investors the same position of protection as handed by larger tender offers under theU.S. civil securities laws. The SEC’s tips for investors regarding mini-tender offers may be set up at http//

Please be apprehensive that shareholders aren’t needed to respond to TRC’soffer. However, shareholders should gain current stock quotations for their shares of Advance Auto Parts, and consult their fiscal counsels, If considering the offer. The offer is set to expire at 1201a.m., Eastern Standard Time, on August 9, 2023, still, TRC may extend the offer or terminate it before the expiration date.

Advance bus corridor encourages broker-dealers and other request actors in the dispersion of the offer to review the SEC’s recommendations to broker-dealers in these circumstances, which can be set up on the SEC website at http// Advance bus corridor requests that a dupe of this news release be included with all distribution of accoutrements related to TRC’s offer for shares of the company’s common stock.

Source Link