3 Sep 2019 11:25
For immediate release
J2 ACQUISITION LIMITED
(the "Company")
3 September 2019
LAUNCH OF WARRANT FINANCING AND CONSENT SOLICITATION
The Company announced earlier today that it has entered into an agreement to acquire APi Group, Inc., for approximately $2.9 billion as detailed in that announcement (the "Transaction"). Further to that announcement, the Company has today launched an early warrant exercise financing and consent solicitation to partially fund the consideration payable as part of the Transaction.
The Company will today despatch a warrant financing consent solicitation memorandum to existing holders of its warrants pursuant to which the Company is seeking from warrantholders: (i) a commitment to the exercise of their outstanding warrants at a reduced exercise price of $10.25 per whole ordinary shares; and (ii) their consent to an amendment to the warrant instrument governing the warrants to shorten, conditional upon the consummation of the Transaction, the subscription period of the warrants to expire upon the consummation of the Transaction (subject to certain limited exceptions) rather than the current expiration date, being the third anniversary of the Company's consummation of an acquisition.
A copy of the warrant consent solicitation memorandum will be available to view at the Company's website http://www.j2acquisitionlimited.com.
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Distribution Restrictions
The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions. This announcement does not constitute or contemplate an invitation to participate in the warranting financing and/or the consent solicitation in any jurisdiction in which, or to any person to whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws.