NEW YORK--(BUSINESS WIRE)--CorTS℠ Trust For BellSouth Debentures (“CorTS℠ Trust”) (OTC Markets Group Ticker Symbol: KTBA) today announced that it elected to express no opinion and remain neutral toward the offer by 745 Capital LLC (“745”) on February 1, 2023, to purchase any and all of CorTS℠ Trust’s outstanding 7% Corporate-Backed Trust Securities (CorTS℠) Certificates (the “Tender Offer”).
CorTS℠ Trust today announced that it believes that each certificate-holder should make its decision as to whether to tender on an individual rather than collective basis, based on the certificate-holder’s particular circumstances. CorTS℠ Trust further believes that the determination of whether to tender is a financial decision to be made by each certificate-holder, in consultation with the certificate-holder’s financial advisor, based on the terms of the Tender Offer and the consideration amount being offered by 745. For these reasons, CorTS℠ Trust believes that it is not appropriate for it to make a recommendation to certificate-holders regarding the Tender Offer and expresses no opinion as to the course of action that certificate-holders should take in connection with the Tender Offer and remains neutral toward the Tender Offer.
The announcements contained in this press release were made pursuant to Rule 14e-2 under the Securities Exchange Act of 1934, as amended.
Cautionary Statement Regarding Forward-Looking Statements
Certain information provided herein may include “forward-looking statements.” You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain forward-looking statements that involve numerous risks and uncertainties. The statements contained in this communication that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, including, without limitation, statements regarding the Transaction. All forward-looking statements included in this communication are based on information available to CorTS℠ Trust on the date hereof. In some cases, you can identify forward-looking statements by terminology such as “may,” “can,” “will,” “should,” “could,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “predicts,” “potential,” “targets,” “goals,” “projects,” “outlook,” “continue,” “preliminary,” “guidance,” or variations of such words, similar expressions, or the negative of these terms or other comparable terminology. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. Neither CorTS℠ Trust nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond CorTS℠ Trust’s control. CorTS℠ Trust undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.