Subsidiary of Blackstreet Launches Tender Offer to Acquire Cartesian, Inc. Shares for $0.40 Per Share in Cash
CARTESIAN INC (CRTN)
US:NASDAQ Investor Relations:
ir.cartesian.com/investor-overview
Company Research
Source: GlobeNewswire
CHEVY CHASE, Md., April 10, 2018 (GLOBE NEWSWIRE) -- Cartesian Holdings, Inc., a Delaware corporation (“Offeror”) today announced that it has commenced a tender offer for all of the outstanding shares of common stock, par value $0.005 per share (the “Shares”), of Cartesian, Inc. (OTCQB:CRTN), a Delaware corporation (“Cartesian”), at a price of $0.40 per share (the “Offer Price”), net to the seller in cash, without interest thereon and less any applicable withholding taxes, upon the terms and conditions set forth in the Offer to Purchase dated today. Offeror is a subsidiary of Cartesian Holdings, LLC, a Delaware limited liability company (“Parent”) and indirect subsidiary of Blackstreet Capital Holdings, LLC (“BCH”), run by Founder and CEO Murry Gunty. The tender offer is being made pursuant to the Agreement and Plan of Merger, dated March 21, 2018 (the “Merger Agreement”), by and among Parent, Offeror and Cartesian. The tender offer is not subject to any financing condition. The
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