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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  United Capital Corp.    

UNITED CAPITAL CORP.
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UTD CAP : July 28, 2011 - United Capital Corp. Announces Final Results of its Tender Offer.

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07/29/2011 | 04:46pm CEST

United Capital Building

9 Park Place

Great Neck, New York 11021

——

Phone: (516) 466-6464

Fax: (516) 829-4301 www.unitedcapitalcorp.net

NEWS RELEASE NEWS RELEASE NEWS RELEASE SUMMARY:

United Capital Corp. Announces

Final Results of its Tender Offer

COMPANY CONTACT:

Anthony J. Miceli

Chief Financial Officer www.unitedcapitalcorp.net (516) 466-6464

FOR IMMEDIATE RELEASE

GREAT NECK, New York, July 28, 2011…United Capital Corp. (OTC Pink: UCAP) announced today the final results of its tender offer to purchase up to 3,600,000 shares of its common stock at a price of $30 per share (net to the seller in cash, without interest), which expired at 5:00 p.m., New York City time, on July 25, 2011.

Based on the final tabulation by Continental Stock Transfer & Trust Company, the Depositary for the tender, 3,379,474 shares of United Capital’s common stock were properly tendered and delivered and United Capital has accepted for purchase such shares of its common stock, at a purchase price of $30 per share, for a total cost of approximately $101.4 million, excluding fees and expenses related to the tender. The Depositary will promptly issue payment for the shares purchased.

After completion of the tender offer, United Capital has approximately 7.4 million shares of common stock outstanding. The Company currently has no outstanding stock options.

Certain statements in this press release and other statements made by the Company or its representatives that are not strictly historical facts are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. The forward-looking statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results, performance and/or achievements of the Company to differ materially from any future results, performance or achievements, expressed or implied, by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, and that in light of the significant uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the

objectives or plans of the Company will be achieved. The Company also assumes no obligation to publicly update or revise its forward-looking statements or to advise of changes in the assumptions and factors on which they are based. See our 2010 Annual Report on Form 10-K for a discussion of risk factors that could impact our future financial performance and/or cause actual results to differ significantly from those expressed or implied by such statements.

United Capital Corp. and its subsidiaries own and manage real estate and hotel properties and provide engineered products to industrial and automotive markets worldwide.

***

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Managers
NameTitle
Attilio F. Petrocelli Chairman & Chief Executive Officer
Anthony J. Miceli President, Chief Operating Officer & Director
Michael T. Lamoretti Director & Vice President
Michael J. Weinbaum Director & Vice President
Stephen M. Kronick Vice President
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