Nortek Amends Cash Tender Offer for Its 11% Senior Secured Notes Due 2013
PROVIDENCE, R.I., April 20, 2011 /PRNewswire/ -- Nortek, Inc. ("Nortek") (OTC QB: NTKS) today announced an amendment to its offer to purchase for cash any and all of its outstanding 11% Senior Secured Notes due 2013. Nortek has amended the offer by reducing the base denomination of the notes required to be tendered from $1,000 (and integral multiples of $1.00 in excess thereof) to $1.00 (and integral multiples of $1.00 in excess thereof).
The offer will expire at 12:01 a.m. New York City time on May 10, 2011, unless extended or earlier terminated. The complete terms and conditions of the offer are detailed in the Company's offer to purchase and consent solicitation statement and the related letter of transmittal, each dated April 12, 2011.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Requests for documents may be directed to D.F. King & Co., Inc., the Information Agent for the Tender Offer and the Consent Solicitation, at (212) 269-5550 (call collect) or at (800) 423-2107 (toll-free).
UBS Securities LLC is the Dealer Manager and Solicitation Agent in connection with the Tender Offer and the Consent Solicitation. Questions regarding the Tender Offer and the Consent Solicitation may be directed to UBS Securities LLC at (203) 719-4210 (call collect) or (888) 719-4210 (toll-free).
For more information on Nortek, please visit www.nortek-inc.com or call (401) 751-1600.
Nortek* is a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and technology products. Nortek offers a broad array of products, including: range hoods, bath fans, indoor air quality systems, medicine cabinets and central vacuums, heating and air conditioning systems, and technology offerings, including audio, video, access control, security and digital display mounting and mobility products.
*As used herein, the term "Nortek" refers to Nortek, Inc., together with its subsidiaries, unless the context indicates otherwise. This term is used for convenience only and is not intended as a precise description of any of the separate corporations, each of which manages its own affairs.
This press release contains forward-looking statements. These statements are based on Nortek's current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors impacting such forward-looking statements include the availability and cost of certain raw materials (including, among others, steel, copper, packaging materials, plastics, resins, glass, wood and aluminum) and purchased components, freight costs, the level of domestic and foreign construction and remodeling activity affecting residential and commercial markets, interest rates, employment levels, inflation, foreign currency fluctuations, consumer spending levels, exposure to foreign economies, the rate of sales growth, prices, and product and warranty liability claims. Nortek undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, please refer to the reports and filings of Nortek with the Securities and Exchange Commission, including the Annual Report on Form10-K for the year ended December 31, 2010.
Richard L. Bready, Chairman and CEO
Edward J. Cooney, Vice President and Treasurer
(401) 751-1600
SOURCE Nortek, Inc.
Share this article