PROVIDENCE, R.I., July 15, 2019 /PRNewswire/ -- Twin River
Worldwide Holdings, Inc. (NYSE: TRWH) announced that Standard
General has informed the Company that it will tender 13,083,391
Shares in the Company's modified Dutch auction tender offer to
ensure that Standard General's percentage ownership does not
increase as a result of the Offer. The Purchase Price in the
Offer will be calculated without regard to the Shares tendered by
Standard General or any other tendering Shareholder that elects to
tender under the option for "Shares Tendered at Price Determined
Pursuant to the Offer." The proration factor will be
calculated based on all Shares tendered and not withdrawn in the
Offer at or below the Purchase Price, including Shares tendered by
Standard General and other Shareholders that do not specify a
price.
This press release will be filed with the Securities and
Exchange Commission on Schedule TO and amends the Offer to Purchase
to the extent so set forth. All of Twin River's SEC documents
are also available on Twin River's website
(www.twinriverwwholdings.com).
General Information
Twin River's board of directors has authorized the Offer, but
none of the board of directors, Twin River, the dealer manager, the
information agent or the depositary or any of their affiliates has
made, and they are not making, any recommendation to Shareholders
as to whether Shareholders should tender or refrain from tendering
their Shares or as to the price or prices at which Shareholders may
choose to tender their Shares. Twin River has not authorized
any person to make any such recommendation. Shareholders must
make their own decision as to whether to tender their Shares and,
if so, how many Shares to tender and the price or prices (if any)
at which they will tender their Shares. In doing so,
Shareholders should read carefully the information in, or
incorporated by reference in, the Offer to Purchase and in the
letter of transmittal, including the purpose and effects of the
tender offer. Shareholders are urged to discuss their
decision with their own tax, financial and legal advisors.
Moelis & Company LLC is acting as the dealer manager for the
Offer. MacKenzie Partners, Inc. is serving as the
information agent and American Stock Transfer & Trust
Company, LLC is acting as the depositary. The Offer to
Purchase, the related letter of transmittal and the other tender
offer materials have been filed as described above and were mailed
to Shareholders. Shareholders should read these materials
carefully because they contain important information, including the
terms and conditions of the Offer. Requests for documents may
be directed to MacKenzie Partners, Inc. at (800) 322-2885 (toll
free) or tenderoffer@mackenziepartners.com. Questions
regarding the Offer may be directed to Moelis & Company LLC at
(800) 346-8848 (toll free).
This press release is for informational purposes only and does
not constitute an offer to sell, or a solicitation of an offer to
buy, any security. No offer, solicitation or sale will be
made in any jurisdiction in which such an offer, solicitation or
sale would be unlawful. The Offer is only being made pursuant
to the terms of the Offer to Purchase. Terms used in this
press release with initial capital letters that are defined in the
tender offer materials are used as so defined.
About Twin River Worldwide Holdings, Inc.
Twin River Worldwide Holdings, Inc. owns and manages four
casinos, two casinos in Rhode
Island, one in Mississippi,
and one in Delaware, as well as a
Colorado horse race track that has
13 authorized OTB licenses. Properties include Twin River
Casino Hotel (Lincoln, RI),
Tiverton Casino Hotel (Tiverton,
RI), Hard Rock Hotel & Casino (Biloxi, MS), Dover Downs Hotel & Casino
(Dover, DE) and Arapahoe Park
racetrack (Aurora, CO). Its
casinos range in size from 1,000 slots and 32 table games
facilities to properties with over 4,100 slots, approximately 125
table games, and 48 stadium gaming positions, along with hotel and
resort amenities. Its shares are traded on the New York Stock
Exchange under the ticker symbol "TRWH."
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SOURCE Twin River Worldwide Holdings, Inc.