Bluegreen Vacations Holding Corporation and Bluegreen Vacations Corporation Announce Closing of Merger
06 5월 2021 - 5:23AM
Business Wire
-- BVH Now Owns 100% of Bluegreen
--
Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX:
BVHBB) (“BVH”) and Bluegreen Vacations Corporation (NYSE: BXG)
(“Bluegreen”) announced today that BVH has consummated its
acquisition of all of the approximately 7% of the outstanding
shares of Bluegreen’s Common Stock not previously beneficially
owned by BVH pursuant to a statutory, short-form merger under
Florida law effected on May 5, 2021. As a result of the merger,
Bluegreen has become an indirect, wholly owned subsidiary of BVH,
and Bluegreen’s shareholders (other than BVH) are entitled to
receive 0.51 shares of BVH’s Class A Common Stock for each share of
Bluegreen’s Common Stock that they held at the effective time of
the merger. Pursuant to the plan of merger, any fractional share of
BVH’s Class A Common Stock otherwise resulting from the application
of the exchange ratio in the merger will be rounded up to the
nearest whole share. As a result of the closing of the merger,
Bluegreen’s Common Stock will be suspended from trading on the New
York Stock Exchange prior to the opening of trading on May 6, 2021
and will no longer be publicly traded.
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“As of the close of business today, BVH will own 100% of
Bluegreen and BVH will be a ‘pure play’ company in the timeshare
space,” commented Alan B. Levan, Chairman and Chief Executive
Officer of Bluegreen Vacations Holding Corporation. “We believe
that going forward this will end confusion in the market as BVH’s
results will now reflect 100% of Bluegreen’s results and will
address the inefficiencies of two public companies.”
In connection with the merger, BVH’s June 2020 Rights Agreement
with American Stock Transfer & Trust Company, LLC, as Rights
Agent, was amended to expire upon consummation of the merger. As a
result, the preferred share purchase rights previously issued under
the Rights Agreement have become null and void, and no preferred
share purchase rights will be attached to, or otherwise accompany,
the shares of BVH’s Class A Common Stock to be issued in the
merger. BVH is taking steps under the Securities Exchange Act of
1934, as amended (the “Exchange Act”), to de-register the preferred
share purchase rights issued under the Rights Agreement and to
delist those preferred share purchase rights from the NYSE. These
actions to de-register and delist the preferred share purchase
rights are simply administrative in nature and will have no effect
on BVH’s Class A Common Stock or Class B Common Stock, which will
continue to trade on the NYSE and the OTCQX, respectively, and
remain registered under the Exchange Act.
About Bluegreen Vacations Holding
Corporation: Bluegreen Vacations Holding Corporation
(NYSE: BVH; OTCQX: BVHBB) is a Florida-based holding company whose
sole investment is its ownership of 100% of Bluegreen Vacations
Corporation (NYSE: BXG). For additional information, please visit
www.BVHCorp.com.
About Bluegreen Vacations
Corporation: Bluegreen is a leading vacation ownership
company that markets and sells vacation ownership interests and
manages resorts in popular leisure and urban destinations. The
Bluegreen Vacation Club is a flexible, points-based, deeded
vacation ownership plan with 68 Club and Club Associate Resorts and
access to nearly 11,300 other hotels and resorts through
partnerships and exchange networks. Bluegreen Vacations also offers
a portfolio of comprehensive, fee-based resort management,
financial, and sales and marketing services to, or on behalf of,
third parties. Bluegreen Vacations Corporation is an indirect,
wholly owned subsidiary of Bluegreen Vacations Holding Corporation
(NYSE: BVH; OTCQX: BVHBB), a Florida-based holding company. For
further information about Bluegreen Vacations Corporation, please
visit www.BluegreenVacations.com.
Cautionary Note Regarding
Forward-Looking Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Exchange
Act. All opinions, forecasts, projections, future plans or other
statements, other than statements of historical fact, are
forward-looking statements. Forward-looking statements may be
identified by the use of words or phrases such as "plans,"
"believes," "will," "expects," "anticipates," "intends,"
"estimates," "our view," "we see," "would" and words and phrases of
similar import. Actual results, performance or achievements could
differ materially from those contemplated, expressed or implied by
the forward-looking statements. Forward-looking statements are
subject to a number of risks and uncertainties. These risks and
uncertainties include, but are not limited to, those relating to
the merger described herein, including that the benefits expected
from the merger may not be realized to the extent anticipated or at
all. The reader should not place undue reliance on any
forward-looking statement, which speaks only as of the date made.
In addition, past performance may not be indicative of future
results. Reference is also made to the risks and uncertainties
contained in reports filed by BVH and Bluegreen with the SEC,
including the "Risk Factors" sections thereof, which may be viewed
on the SEC's website at www.sec.gov.
The companies caution that the foregoing factors are not exclusive.
Neither company undertakes, and each of them specifically disclaims
any obligation to, update or supplement any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210505006113/en/
Bluegreen Vacations Holding Corporation
Contact Info: Investor Relations: Leo Hinkley, Managing
Director, Investor Relations Officer Telephone: 954-399-7193 Email:
Leo.Hinkley@BVHcorp.com
Bluegreen Vacations (NYSE:BXG)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Bluegreen Vacations (NYSE:BXG)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
