Advance Auto Parts Comments on TRC Capital “Mini-Tender” Offer
17 Julho 2023 - 5:30PM
Business Wire
Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive
aftermarket parts provider in North America, that serves both
professional installer and do-it-yourself customers, has been
notified that TRC Capital Investment Corporation (TRC) has made an
unsolicited “mini-tender” offer to purchase up to 1,000,000 shares
of Advance Auto Parts stock at $65.75 per share, or 4.43 percent
below the closing price of the company’s stock on July 10, 2023,
the last trading day before the date of the offer. As of today, TRC
offer price is 6.9 percent below the closing price of the company’s
stock on July 14, 2023.
Advance Auto Parts is in no way associated with TRC and
expresses no opinion on TRC’s “mini-tender” offer.
Mini-tender offers seek to acquire less than five percent of a
company's outstanding shares, thereby avoiding many disclosure and
procedural requirements under U.S. federal securities laws and the
rules and regulations of the U.S. Securities and Exchange
Commission (SEC). As a result, mini-tender offers do not provide
investors with the same level of protections as provided by larger
tender offers under the U.S. federal securities laws. The SEC's
tips for investors regarding mini-tender offers may be found at
http://www.sec.gov/investor/pubs/minitend.htm.
Please be aware that shareholders are not required to respond to
TRC’s offer. If considering the offer, shareholders should obtain
current stock quotes for their shares of Advance Auto Parts,
consult their financial advisors, and exercise caution with respect
to TRC’s offer. The offer is set to expire at 12:01 a.m., Eastern
Standard time, on August 9, 2023, however, TRC may extend the offer
or terminate it before the expiration date.
Advance Auto Parts encourages broker-dealers and other market
participants in the dissemination of the offer to review the SEC's
recommendations to broker-dealers in these circumstances, which can
be found on the SEC website at
http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Advance Auto Parts requests that a copy of this news release be
included with all distribution of materials related to TRC’s offer
for shares of the company’s common stock.
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket
parts provider that serves both professional installer and
do-it-yourself customers. As of April 22, 2023 Advance operated
4,778 stores and 318 Worldpac branches primarily within the United
States, with additional locations in Canada, Puerto Rico and the
U.S. Virgin Islands. The company also served 1,315 independently
owned Carquest branded stores across these locations in addition to
Mexico and various Caribbean islands. Additional information about
Advance, including employment opportunities, customer services, and
online shopping for parts, accessories and other offerings can be
found at www.AdvanceAutoParts.com.
Forward-Looking Statements
Certain statements herein are “forward-looking statements,”
which are usually identifiable by words such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,”
“intend,” “likely,” “may,” “plan,” “position,” “possible,”
“potential,” “probable,” “project,” “should,” “strategy,” “will,”
or similar language. All statements other than statements of
historical fact are forward-looking statements, including, but not
limited to, statements about the purpose, terms and effect of the
mini tender offer by TRC. Forward-looking statements reflect our
views based on historical results, current information and
assumptions related to future developments. Except as may be
required by law, we undertake no obligation to update any
forward-looking statements made herein. Forward-looking statements
are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those projected or implied
by the forward-looking statements. For a discussion of the risks,
uncertainties and assumptions that could affect our future events,
developments or results, please refer to “Item 1A. Risk Factors” of
our most recent Annual Report on Form 10-K filed with the
Securities and Exchange Commission (“SEC”), as updated by our
subsequent filings with the SEC, for a description of these and
other risks and uncertainties that could cause actual results to
differ materially from those projected or implied by the
forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230717915952/en/
Investor Relations Contact: Elisabeth Eisleben T: (919)
227-5466 E: invrelations@advanceautoparts.com
Media Contact: Darryl Carr T: (984) 389-7207 E:
AAPCommunications@advance-auto.com
Advance Auto Parts (NYSE:AAP)
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