Investors: Today the Tonti Group filed a motion to restructure it’s bid.
The motion is posted on this website for you to read. In essence Tonti wishes to guarantee payments interim payments to occur between the initial down payment and the final payment of $6.5 million resulting in a guaranteed payout of $27.5 million over the seven year period plus premium payments for March and April.
I expect Silverpointe will respond to this motion and I’ll see that it is posted as well.
The fairness hearing remains set for May 9th.
Contact me with any questions or concerns.
Andrew Storar, Examiner