Autotote Corporation Extends Tender Offer and Announces Tender Offer Pricing for Its 10 7/8% Series B Senior Notes Due 2004.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 17, 2000 Autotote Corporation (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :TTE TTE Telecommunications Terminal Equipment TTE Transthoracic Echocardiography TTE Transthoracic Echocardiogram TTE Trustee TTE TCL-Thomson Electronics TTE To the Extreme (band) TTE The Tourism Expert ) announced today that it has extended the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist.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 its tender offer for all of its outstanding 10 7/8% Series B Senior Notes due 2004 (the "Notes") from 9:00 a.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 August 21, 2000, to 9:00 a.m., New York City time, on Thursday, August 24, 2000, unless further extended. As of 5:00 p.m., New York City time, on August 16, 2000 approximately $109,935,000 principal amount of Notes had been validly tendered and not withdrawn. The Company also announced the pricing of the tender offer. The total consideration for each $1,000 principal amount of Notes will be $1,092.95 (calculated as described in Schedule I to the Company's Offer to Purchase 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 Statement dated July 24, 2000 (the "Statement")) assuming a payment date of August 24, 2000. The total consideration was calculated based on the present value of the Notes using the redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of the Notes on August 1, 2001 on the basis of a tender offer yield of 6.939% which is the sum of the yield determined at 2:00 p.m., New York City time, on August 16, 2000 for the 5 1/2% U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Note due July 31, 2001 plus 50 basis points, plus accrued and unpaid interest up to, but not including, the date of payment for the Notes. As described in more detail in the Statement, the total consideration for the Notes includes a consent payment equal to $25.00 per $1,000 principal amount of the Notes purchased that will be paid only for tendered Notes for which consents were delivered on or prior to August 4, 2000. As of that date, tenders and consents had been received from holders of more than 99% of the $110 million of outstanding Notes. The tender offer and consent solicitation are being made in connection with the proposed acquisition (the "Scientific Games Acquisition") by the Company of Scientific Games Holdings Corp. The tender offer and the making of the consent payments are conditioned upon, among other things, consummation of the Scientific Games Acquisition and the satisfaction of a financing condition, each as described in more detail in the Statement. This announcement is not an offer to purchase, a 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 of an offer to sell or a solicitation of consents with respect to the Notes. The tender offer and consent solicitation are being made solely by the Statement and the related 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. , as the same may be amended from time to time. Additional information concerning the terms of the tender offer and consent solicitation and copies of the Statement and related documents may be obtained from Donaldson Lufkin & Jenrette at (212) 892-8474 (call collect) or (800) 334-1604 (toll-free), the Dealer Manager for the tender offer and consent solicitation, or MacKenzie Partners, Inc., the Information Agent, at (212) 929-5500 (call collect) or (800) 322-2885 (toll-free). |
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