This afternoon, Hunter Maritime (HUNT) released the results of their shareholder vote to extend the date by which the company must consummate its initial business combination from November 23, 2018 to April 23, 2019. The amendment was approved, however, no further details were given.
Additionally, there are two parts to this “extension” and the Extension Tender Offer part of it is still not complete. The Tender Offer, which began on October 5, 2018, will still be open until 5:00PM (ET) November 6, 2018.
By way of further explanation, the Extension Amendment will not be approved unless the Extension Tender Offer is consummated. Furthermore, the Extension Tender Offer would not be consummated unless the Extension Amendment was approved. It’s all very confusing, but what you need to know is, Hunter made it past the first hurdle (the Extension Amendment approval by vote) and now they just need to wrap up the Tender Offer.
You can read the press release here, but so far it’s looking good for Hunter Maritime. Red skies at night….
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