NEW
YORK, July 10, 2024 /PRNewswire/ -- Mason
Capital Management LLC, a Delaware
limited liability company ("Mason Capital"), announced today the
extension of the expiration of its previously announced tender
offer (the "Tender Offer") for any and all the outstanding American
depositary shares (the "ADSs") and ordinary shares (the "Ordinary
Shares") in Forward Pharma A/S for a purchase price of $437.00 per ADS or 0.76
DKK per Ordinary Share, the terms and conditions of which
are described in an Offer to Purchase, dated May 14, 2024, a related Letter of Transmittal,
dated May 14, 2024 and a related
Share Transfer Note, dated May 14,
2024 (together, the "Tender Offer Materials"). The Tender
Offer, which was previously scheduled to expire at 5:00 p.m., New York
City time, on July 10, 2024,
has been further extended until 5:00
p.m., New York City time,
on July 24, 2024, unless the Tender
Offer is further extended or earlier terminated.
As of July 10, 2024, 1,329 ADSs
and no Ordinary Shares have been tendered into the Tender Offer. In
addition, though Mason Capital has continued to attempt to discuss
with the Bank of New York Mellon, as depositary, the treatment of
the Ordinary Shares upon surrender of ADSs on the Settlement Date
(as defined in the Tender Offer Materials), as of July 10, 2024 Mason Capital is unable to confirm
whether the BNY Condition (as defined in the Tender Offer
Materials) will be satisfied on the Settlement Date. Mason Capital
expects to continue to engage with the depositary to determine if
the BNY Condition will be satisfied as of the Settlement
Date.Requests for documents relating to the Tender Offer may be
directed to MacKenzie Partners at 800-322-2885 or
tenderoffer@mackenziepartners.com.
Mason Capital is making the Tender Offer only by, and pursuant
to, the terms of the Tender Offer Materials (pursuant to which the
expiration date of the Tender Offer has been extended until
5:00 p.m., New York City time, on July 24, 2024). Mason Capital does not make any
recommendations as to whether holders of ADSs or Ordinary Shares
should tender or refrain from tendering their ADSs or Ordinary
Shares. Holders must make their own decision as to whether to
participate in the Tender Offer and, if so, the amount of ADSs or
Ordinary Shares to tender or purchase. The Tender Offer is not
being made to holders of ADSs or Ordinary Shares in any
jurisdiction in which the making or acceptance thereof would not be
in compliance with the securities, blue sky or other laws of such
jurisdiction.
This press release does not constitute an offer to purchase
securities or a solicitation of an offer to sell any securities or
an offer to sell or the solicitation of an offer to purchase any
new securities, nor does it constitute an offer or solicitation in
any jurisdiction in which such offer or solicitation is unlawful.
Capitalized terms used in this press release but not otherwise
defined herein have the meanings assigned to them in the Tender
Offer Materials.
About Mason Capital
Mason Capital is a global event driven hedge fund founded in
July 2000 by Ken Garschina and Mike
Martino. Assets under management are $1.37 billion as of December 31, 2023. Mason Capital has an absolute
return focus and seeks to generate consistent positive returns in
any market environment.
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SOURCE Mason Capital Management LLC