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Ponos Industries LLC Extends Tender Offer for up to 32,142,587 Shares of Common Stock of General Electric Company

NEW YORK - Sept. 21, 2018 - PrZen -- Ponos Industries LLC ("Purchaser") announces that its previously-announced tender offer (the "Offer") to acquire up to 32,142,587 shares of common stock (the "Shares") of General Electric Company for $13.90 per Share (the "Offer Price"), has been extended to 5:00 p.m., New York City time, on Friday, March 22, 2019, unless further extended or earlier terminated (the "Expiration Date").  The Offer was previously scheduled to expire at 5:00 p.m., New York City time, on Friday, September 21, 2018.  All other terms and conditions of the Offer remain unchanged.

As of 5:00 p.m., New York City time, on Wednesday, September 19, 2018, approximately 2,000,000 Shares had been tendered into and not withdrawn from the Offer.  Shareholders who have already tendered their Shares do not have to re-tender their Shares or take any other action due to extension of the Offer's expiration date.

The Offer is subject to closing conditions set forth in the Offer to Purchase, dated August 17, 2018, including the closing price of the Shares on the NYSE on the last full trading day prior to the Expiration Date exceeding the Offer Price and Purchaser obtaining financing necessary to fund Purchaser's financial obligations arising from the Offer.

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell shares or any other securities. The Offer to Purchase common stock of General Electric Company is only being made pursuant to the Offer to Purchase and Letter of Transmittal with respect to the Offer, as such documents may be supplemented and amended from time to time. Shareholders are urged to read these materials carefully because they contain important information, included the terms and conditions of the Offer, that shareholders should consider before making any decision regarding tendering their Shares. Shareholders can obtain a copy of the Offer to Purchase and Letter of Transmittal with respect to the Offer by contacting the information agent at (888) 422-4311 OR INFOAGENT@PONOSCAPITAL.COM. Copies of these materials and any documentation relating to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from any jurisdiction where to do so would be unlawful.

Ponos Industries LLC is a private investment company that specializes in investing in publicly traded securities whose value it expects to appreciate over a 12-month period.

Forward Looking Statements

Statements included in this press release that are not historical facts are forward-looking statements, which involve a number of risks and uncertainties and are subject to change at any time.  While Purchaser may elect to update forward-looking statements in the future, Purchaser specifically disclaims any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.

Source: Ponos Industries LLC
Filed Under: Finance, Industrial

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