Advanstar, Inc. and Advanstar Communications Inc. Announce Extension of Tender Offer Expiration Date.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Advanstar, Inc. ("Advanstar") and Advanstar Communications Inc. ("Communications" and together with Advanstar, the "Issuers") announced that they are extending the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with with respect to Communications' 10 3/4% Second Priority Senior Secured Notes due 2010 (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. Nos. 00758RAM6 and 00758RAH7) (the "Senior Secured Notes") and 12% Senior Subordinated Notes due 2011 (CUSIP No. 00758RAF1) (the "Senior Subordinated Notes") and Advanstar's 15.0% Senior Discount Debentures due 2011 (CUSIP No. 00759JAE JAE Journal of Applied Econometrics JAE Journal of Architectural Education JAE Journal of Aesthetic Education JAE Jump If Above or Equal JAE Journal of Architectural Engineering JAE Java Application Environment JAE Junta Autónoma de Estradas 1) (the "Debentures", and, together with the Senior Secured Notes and the Senior Subordinated Notes, the "Notes"), from 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on May 18, 2007, to 11:59 p.m. New York City time, on May 30, 2007, unless otherwise extended or earlier terminated by the Issuers (the "Expiration Date"). Subject to the terms and conditions of the tender offers and consent solicitations (as described in the Issuers' Offer to Purchase and Consent Solicitation Statement, dated April 19, 2007 (the "Statement")), any Notes validly tendered will be accepted for purchase promptly following the Expiration Date. Except for the extension of the Expiration Date, all of the other terms and conditions of the tender offer and consent solicitation remain unchanged. To date, holders of approximately 100% of the outstanding aggregate principal amount of the Senior Secured Notes, holders of approximately 93.41% of the outstanding aggregate principal amount of the Senior Subordinated Notes and holders of approximately 97.96% of the outstanding aggregate principal amount of the Debentures, have tendered their outstanding Notes and delivered related consents pursuant to the tender offers and consent solicitations. As previously announced, the Issuers received the requisite consents from the registered holders of the Notes to amend the indentures governing the Notes. The last day that holders of Notes could have withdrawn tendered Notes and revoked the related consents was as of 5:00 p.m. New York City time on May 2, 2007 (the "Consent Date"). As a result, tendered Notes and related consents may no longer be withdrawn or revoked. If all conditions to the tender offer and consent solicitation are satisfied, holders of the Notes who validly tendered their Notes pursuant to the tender offer and validly delivered their consents pursuant to the consent solicitation by the Consent Date and did not validly withdraw their Notes or revoke To annul or make void by recalling or taking back; to cancel, rescind, repeal, or reverse. revoke v. to annul or cancel an act, particularly a statement, document, or promise, as if it no longer existed. their consents by such date, will be paid a consideration of $1,057.53, for each $1,000 principal amount outstanding of Senior Secured Notes, $1,013.50 for each $1,000 principal amount outstanding of Senior Subordinated Notes and $1,012.50 for each $1,000 principal amount outstanding of Debentures, in each case, in addition to a consent payment of $30 per $1,000 outstanding principal amount of Notes tendered and accepted in the tender offers. Holders who validly tender their Notes after the Consent Date will not receive the consent payment. In addition, holders who validly tender and do not validly withdraw their Notes in the tender offer will receive accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. and unpaid interest from the last interest payment date up to, but not including, the applicable date of payment. Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Securities (USA) LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is the exclusive Dealer Manager and Solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual Agent for the tender offers and consent solicitations. Questions regarding the tender offers and consent solicitations may be directed to Credit Suisse Securities (USA) LLC's Liability Management Group, at (800) 820-1653 (toll free) or (212) 538-0652 (collect). Requests for the Statement, Consent and Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. or other documents related to the tender offers and solicitations may be directed to the Information Agent, D.F. King & Co., Inc., at (888) 628-8208 (toll free). This press release is not an offer to purchase, a solicitation of an offer to sell or a solicitation of consent with respect to any securities, including the Notes. About Advanstar, Inc. and Advanstar Communications Inc. Advanstar (www.advanstar.com) is a worldwide media company providing integrated marketing solutions for the Fashion and Licensing, Life Sciences and Powerports industries. Communications serves business professionals and consumers in these industries with its portfolio of 91 shows and stand-alone conferences, 66 publications and directories, 150 electronic publications and Web sites, as well as educational and direct marketing products and services. Market leading brands and a commitment to delivering innovative, quality products and services enables Communications to "Connect Our Customers With Theirs." Communications has roughly 1,000 employees and currently operates from multiple offices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe. All of the common stock of Communications is owned by its parent company, Advanstar. |
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