CHANTILLY, Va. and SYOSSET, N.Y., Sept. 14, 2021 /PRNewswire/ -- APS Acquisitionco, Inc., a wholly-owned subsidiary of Corbett Technology Solutions, Inc. (CTSI), announced today that it has commenced a tender offer to purchase all the outstanding shares of common stock of AFA Protective Systems, Inc. (OTCMKTS: AFAP), at a price of $743.50 per share.
On September 1, 2021, the last full trading day prior to announcement of the transaction, the sale price of AFAP's shares reported on OTCMKTS was $106.50. Following the consummation of the tender offer, APS Acqusitionco, Inc. will be merged with and into AFAP with AFAP as the surviving corporation.
This tender offer will expire on October 26, 2021 at midnight (one minute after 11:59 p.m.), New York time, unless extended. Tenders of AFAP's common stock must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. Each outstanding share of common stock outstanding immediately prior to the merger, will be converted into the right to receive the offer price without interest thereon and less any required withholding taxes.
This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell or purchase shares of AFAP's common stock. The tender offer is being made pursuant to the Agreement and Plan of Merger, Offer to Purchase and other related materials that AFAP is sending or making available to its stockholders. The tender offer materials contain important information that should be read carefully before any decision is made with respect to the tender offer.
About AFA Protective Systems Established in 1873, AFA is the oldest continuously operating alarm company in the United States, with offices throughout the East Coast and with service capability throughout the country through its National Accounts Division.
Additional information about AFA is available at www.afap.com
About CTSI For over five decades, CTSI has been at the forefront of technology integration and innovation with critical communications, collaboration, audiovisual and security solutions for enterprise, government, healthcare and education customers. With an engineering-driven culture, we deliver best-in-class solutions and services with highly trained, lean-certified user experience practitioners, programmers, technicians, engineers, and customer care representatives. CTSI delivers unmatched design, installation, integration, and managed and subscription services that deliver high-quality, end-to-end results tailored to customers' unique needs and challenges.