$BTC $BNB $XRP Tether Investments announced the results of its offer to purchase shares of Adecoagro

AI Summary

According to PANews, Tether Investments, a subsidiary of the Tether Group, announced the results of its offer to purchase the common shares of Adecoagro S.A. The offer aimed to buy up to 49,596,510 shares at a cash price of $12.41 per share, and it ended at midnight on April 24, 2025, New York time. The custodian, Computershare Trust Company, NA, informed Tether that a total of 67,075,545 common shares were properly submitted before the expiration of the offer.

Previously, on March 27, 2025, Tether and Adecoagro announced a deal agreement, which was unanimously approved by the Board of Directors of Adecoagro. Under this agreement, Tether sought to acquire up to 70% of the outstanding common shares of Adecoagro through the purchase offer to achieve a controlling interest. Tether will accept and purchase 49,596,510 common shares based on valid offers at the expiration of the offer.

Due to oversubscription of the purchase offer, Tether will allocate shares proportionately before completing the acquisition. Specifically, Tether will purchase the shares based on the proportion of shares properly submitted by each shareholder, rounding fractional shares accordingly. The calculated allocation factor is approximately 73.9%.

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