Akin Gump Advises rue21 in Modified “Dutch Auction” Cash Tender Offer for Common Stock
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(New York) – Specialty retailer rue21 (r21 Holdings, Inc.) announced that it is commencing a modified “Dutch Auction” tender offer to purchase up to $80 million in aggregate value of its Class A Common Stock, par value $0.01, and Class B Common Stock, par value $0.01, at a cash purchase price not greater than $285 nor less than $250 per share. A team from Akin Gump advised rue21 in the offering, which commenced on June 8.
The modified “Dutch Auction” tender offer allows stockholders to indicate how many shares of common stock and at what price (in increments of $5) within the range set forth above they wish to tender. The offer will expire at 5:00 pm ET on Wednesday, July 7, 2021, unless extended or earlier terminated by rue21 in its sole discretion.
To learn more, please click here.
The Akin Gump team advising rue21 included Dan Fisher, head of the firm’s integrated special situations group, corporate partner Ryan Cox and counsel Kim Rowe.
Last December, Akin Gump advised rue21 in a debt retirement and credit agreement extension. For more on that, please click here.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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