APS Acquisitionco, Inc., a wholly-owned subsidiary of Corbett Technology Solutions, Inc. (CTSI), announced today that it has commenced a tender offer to purchase all the outstanding shares of common stock of AFA Protective Systems, Inc. (OTCMKTS: AFAP), at a price of $743.50 per share.
On September 1, 2021, the last full trading day prior to announcement of the transaction, the sale price of AFAP’s shares reported on OTCMKTS was $106.50. Following the consummation of the tender offer, APS Acqusitionco, Inc. will be merged with and into AFAP with AFAP as the surviving corporation.
This tender offer will expire on October 26, 2021 at midnight (one minute after 11:59 p.m.), New York time, unless extended. Tenders of AFAP’s common stock must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. Each outstanding share of common stock outstanding immediately prior to the merger, will be converted into the right to receive the offer price without interest thereon and less any required withholding taxes.