K-9 Acquisition, Inc. (the “Offeror”), an affiliate of Apollo
Global Management (NYSE: APO) (“Apollo”), and Great Wolf Resorts,
Inc. (NASDAQ: WOLF) (“Great Wolf”), announced today that they have
extended the previously announced cash tender offer for all
outstanding Great Wolf shares (the “Offer”) for a period of 10
business days.
The Offeror is extending the expiration of the Offer until 9:00
a.m., New York City time, on April 20, 2012, unless further
extended or earlier terminated. The Depositary has informed the
Offeror that, as of 5:00 p.m. on Wednesday, April 4, 2012,
1,390,192 shares of common stock have been validly tendered and not
validly withdrawn.
Except as set forth herein, the complete terms and conditions of
the Offer remain the same as set forth in the Offer to Purchase
dated March 13, 2012, and the related letters of transmittal.
The Offeror will amend its Tender Offer Statement filed with the
Securities and Exchange Commission (the “SEC”) to reflect this
extension.
In addition, K-9 Investors, L.P. (the “Holding Partnership”), an
affiliate of Apollo, announced today that it has extended the
previously announced change of control offer (the “Change of
Control Offer”) for all of the outstanding 10.875% First Mortgage
Notes due 2017 (the “Notes”) so that the Change of Control Offer
will expire simultaneously with the Offer.
The Change of Control Offer was previously scheduled to expire
at 9:00 a.m., New York City time, on April 13, 2012. The Holding
Partnership is extending the expiration of the Change of Control
Offer until 9:00 a.m., New York City time, on April 20, 2012,
unless further extended or earlier terminated. Accordingly, the
tender deadline under the Change of Control Offer is extended to
5:00 p.m., New York City time, on April 17, 2012 and the withdrawal
deadline under the Change of Control Offer is extended to 5:00
p.m., New York City time, on April 18, 2012. The Tender Agent under
the Change of Control Offer has informed the Holding Partnership
that, as of 5:00 p.m. on Wednesday, April 4, 2012, no Notes have
been properly tendered in the Change of Control Offer.
Except as set forth herein, the complete terms and conditions of
the Change of Control Offer remain the same as set forth in the
Change of Control Notice and Offer to Purchase dated March 13,
2012, and the related letter of transmittal.
Copies of the documents related to the Offer may be obtained
from MacKenzie Partners, Inc. at (212) 929-5500 (collect) or (800)
322-2885 (toll free). Any persons with questions regarding the
Offer should contact MacKenzie Partners at the above numbers or the
dealer manager, UBS Investment Bank, at (212) 821-6071 (collect) or
(855) 565-0223 (toll free). Copies of the documents related to the
Change of Control Offer may be obtained from, and any questions
regarding the Change of Control Offer may be addressed to, D.F.
King & Co., Inc. at (800) 859-8511 (toll free).
About Apollo Global Management
Apollo (NYSE: APO) is a leading global alternative investment
manager with offices in New York, Los Angeles, Houston, London,
Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had
assets under management of more than $75 billion as of December 31,
2011, in private equity, credit-oriented capital markets and real
estate funds invested across a core group of nine industries where
Apollo has considerable knowledge and resources. For more
information about Apollo, please visit http://www.agm.com.
About Great Wolf Resorts, Inc.
Great Wolf Resorts, Inc.® (NASDAQ: WOLF), Madison, Wis., is
North America’s largest family of indoor waterpark resorts, and,
through its subsidiaries and affiliates, owns and operates its
family resorts under the Great Wolf Lodge® brand. Great Wolf
Resorts is a fully integrated resort company with Great Wolf Lodge
locations in: Wisconsin Dells, Wis.; Sandusky, Ohio; Traverse City,
Mich.; Kansas City, Kan.; Williamsburg, Va.; the Pocono Mountains,
Pa.; Niagara Falls, Ontario; Mason, Ohio; Grapevine, Texas; Grand
Mound, Wash.; and Concord, N.C. Great Wolf’s consolidated
subsidiary, Creative Kingdoms, LLC, is a developer and operator of
technology-based, interactive quest adventure experiences such as
MagiQuest®. Additional information may be found on Great Wolf’s
website at http://www.greatwolf.com.
Forward-Looking Statements
Statements herein regarding the Offer, the proposed transaction
among Apollo and Great Wolf and the Change of Control Offer
constitute “forward-looking statements” as defined in the federal
securities laws. Forward-looking statements may be identified by
words such as “believe,” “expects,” “anticipates,” “projects,”
“intends,” “should,” “estimates” or similar expressions. Such
statements are based upon current beliefs, expectations and
assumptions and are subject to significant risks and uncertainties.
There are a number of important factors that could cause actual
results or events to differ materially from those indicated by such
forward-looking statements. Apollo and Great Wolf believe these
forward-looking statements are reasonable; however, undue reliance
should not be placed on any forward-looking statements, which are
based on current expectations. All written and oral forward-looking
statements attributable to Apollo and Great Wolf or persons acting
on Apollo’s or Great Wolf’s behalf are qualified in their entirety
by these cautionary statements. Further, forward-looking statements
speak only as of the date they are made, and Apollo and Great Wolf
undertake no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over
time unless required by law. Past financial or operating
performance is not necessarily a reliable indicator of future
performance and you should not use Great Wolf’s historical
performance to anticipate results or future period trends.
Additional factors that may affect future results are contained
in Great Wolf’s filings with the SEC, including its Annual Report
on Form 10-K for the year ended December 31, 2011, which are
available at the SEC’s Web site http://www.sec.gov. The information
set forth herein speaks only as of the date hereof, and any
intention or obligation to update any forward-looking statements as
a result of developments occurring after the date hereof is hereby
disclaimed unless required by law.
IMPORTANT NOTICE: This press release is for informational
purposes only and is neither an offer to buy nor the solicitation
of an offer to sell any shares, Notes or other securities nor a
solicitation of tenders with respect to the Offer or the Change of
Control Offer. The Offer and the Change of Control Offer described
herein will not be made in any jurisdiction in which, or to or from
any person to or from whom, it is unlawful to make such offer or
solicitation under applicable state or foreign securities or “blue
sky” laws.
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