Business News • MarketWire • FlatWorld Acquisition Corp. Announces Extension of Tender Offer |
FlatWorld Acquisition Corp. Announces Extension of Tender Offer |
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FlatWorld Acquisition Corp. Announces Extension of Tender Offer
NEW YORK, NY--(Marketwire - Aug 30, 2012) - FlatWorld Acquisition Corp. (the "Company" or "FlatWorld") (OTCQB: FWLAF) today announced that its previously announced tender offer, as amended (the "Tender Offer") has been extended until 5:00 p.m., New York City time, on September 6, 2012, unless further extended or earlier terminated. The Tender Offer was previously scheduled to expire at 5:00 p.m., New York City time, on August 30, 2012. However, the number of ordinary shares that were tendered as of August 30, 2012 exceeded the maximum allowable amount that would permit the Company to satisfy one of the conditions of the Tender Offer. The completion of the Tender Offer is a condition to the Company's previously announced business transaction with Orchid Island Capital, Inc. (the "Orchid Island"). The extension is being made for the purpose of providing holders of ordinary shares with additional time to evaluate the Company's business transaction with Orchid Island and make a decision with respect to the Tender Offer. Except for such extension, all of the terms and conditions set forth in the Tender Offer materials remain unchanged. Shareholders who support the Company's business transaction with Orchid Island should not tender their ordinary shares in the Tender Offer, and if they have previously done so, should withdraw such tendered shares prior to 5:00 p.m., New York City time, on September 6, 2012.
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