Cosan Reports Preliminary Results Of Its Tender Offer - Quick Facts

(RTTNews) - Cosan Limited (CZZ) announced the preliminary results of its tender offer to purchase up to $100 million of its class A common shares. The tender offer expired on December 28, 2018. Based on the preliminary count, a total of 30,893,575 class A common shares of Cosan were properly tendered and not properly withdrawn at a price of $8.88 per share, the minimum cash purchase price in the price range specified in the tender offer, including 5,834,718 shares that were tendered through notice of guaranteed delivery.

Cosan expects to accept for payment an aggregate of 14,228,134 shares at a purchase price of $8.88 per share. The shares expected to be repurchased represent 9.6% of Cosan's issued and outstanding Class A common shares as of December 28, 2018. Because the tender offer is oversubscribed, Cosan expects to purchase only a prorated portion of the shares properly tendered by each tendering shareholder at the final per share purchase price.