TKK Symphony (TKKS) Extends Tender Offer For Third Time

TKK Symphony Acquisition Corporation (TKKS) today announced that it would be extending the expiration of its tender offer to purchase up to 25,000,000 shares at a purchase price of $10.28, for a third time. The tender offer was expected to expire tonight (at 5:00 p.m.), but will now expire at 5:00 p.m. New York City time, on Wednesday, January 8th, 2020.  However, since this is the third extension, we can’t rule out the possibility of even further extensions since TKKS’s SPAC deadline does not expire until February 20, 2020.

However, as of 2:00 p.m., New York City time, today, an aggregate of 24,927,104 ordinary shares have been tendered.  That leaves just 72,896 shares and a trust value of approximately only $750,000.  That’s a challenging number now matter how you slice it.

TKKS now has a little less than four weeks to work on this deal. Let’s see if 2020 is the better year for them.