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Surge Components Announces Final Results of Tender Offer

Mar 10, 2017

Surge Components, Inc. (Surge or the Company) (OTC Pink:SPRS), a leading supplier of capacitors, discrete semi-conductors and audible and sounding devices, announced today the final results of its tender offer, which expired at 11:59 p.m., New York City time, on March 3, 2017. Based on the final count by Continental Stock Transfer & Trust Company, the depositary for the tender offer, a total of 6,135,617 shares of the Companys common stock were validly tendered and not validly withdrawn.

Because the tender offer is oversubscribed by 1,135,617 shares, the Company will purchase only a prorated portion of the shares properly tendered by each tendering stockholder. The depositary has informed the Company that the final proration factor for the tender offer is approximately 81.7% of the shares validly tendered and not validly withdrawn. Continental Stock Transfer & Trust Company will promptly issue payment for the shares accepted pursuant to the tender offer and return all other shares tendered and not purchased. The shares expected to be acquired represent approximately 49% of the total number of shares of the Companys common stock issued and outstanding as of February 2, 2017.

Morrow Sodali LLC acted as information agent for the tender offer and Continental Stock Transfer & Trust Company acted as the depositary. All inquiries about the tender offer should be directed to Morrow Sodali LLC at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400).

Important Notice Regarding Forward-Looking Statements

This press release may include forward-looking statements. The statements made by the Company are based upon management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company's control and the risk factors and other cautionary statements described in the Company's filings with the SEC, including the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2017.

About Surge Components, Inc.

Founded in November 1981, Surge is a supplier of capacitors, discrete semi-conductors and audible/sounding devices. Surges capacitor product portfolio includes aluminum electrolytic capacitors, film capacitors, and ceramic capacitors. In the discrete semiconductor portfolio, Surges strengths include general purpose, recovery, schottky, polymer ESD, and transient voltage suppressors, transistors, diodes, and a full line of bridge rectifiers. With more than 30 years in the industry, Surge helps customers bring their products to market using the highest quality components with the most competitive economics to scale. Surge supplies its top quality products to customers in many market segments, including, but not limited to, power, energy, automotive, computer, telecom and security.

Comments (4)

Jessica Moore

This article about electronic components is well-written and informative. It covers a wide range of topics and provides valuable insights into the world of electronics. I found the explanations to be clear and easy to understand, even for someone with limited technical knowledge.

November 30, 2019
1. Adam Taylor
  
  I also enjoyed reading this article. It's great to see such clear explanations of complex topics. Looking forward to reading more from this author in the future.
  
  December 5, 2019
Ryan Ford

I completely agree with the previous reviewer. This article is an excellent resource for anyone interested in learning about electronic components. I particularly appreciated the section on common types of resistors and how to read their values. Keep up the good work!

December 5, 2020

Surge Components Announces Final Results of Tender Offer

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