Mason Capital Announces Additional Extension of Tender Offer

NEW YORK, July 25, 2024 /PRNewswire/ -- Mason Capital Management LLC, a Delaware limited liability company ("Mason Capital"), announced today the extension of the expiration of its previously announced tender offer (the "Tender Offer") for any and all the outstanding American depositary shares (the "ADSs") and ordinary shares (the "Ordinary Shares") in Forward Pharma A/S for a purchase price of $437.00 per ADS or 0.76 DKK per Ordinary Share, the terms and conditions of which are described in an Offer to Purchase, dated May 14, 2024, a related Letter of Transmittal, dated May 14, 2024 and a related Share Transfer Note, dated May 14, 2024 (together, the "Tender Offer Materials"). The Tender Offer, which was previously scheduled to expire at 5:00 p.m., New York City time, on July 24, 2024, has been further extended until 5:00 p.m., New York City time, on July 31, 2024, unless the Tender Offer is further extended or earlier terminated.

As of July 24, 2024, 1,338 ADSs and no Ordinary Shares have been tendered into the Tender Offer. In addition, though Mason Capital has continued to attempt to discuss with the Bank of New York Mellon, as depositary, the treatment of the Ordinary Shares upon surrender of ADSs on the Settlement Date (as defined in the Tender Offer Materials), as of July 24, 2024 Mason Capital is unable to confirm whether the BNY Condition (as defined in the Tender Offer Materials) will be satisfied on the Settlement Date. Mason Capital expects to continue to engage with the depositary to determine if the BNY Condition will be satisfied as of the Settlement Date.Requests for documents relating to the Tender Offer may be directed to MacKenzie Partners at 800-322-2885 or tenderoffer@mackenziepartners.com. 

Mason Capital is making the Tender Offer only by, and pursuant to, the terms of the Tender Offer Materials (pursuant to which the expiration date of the Tender Offer has been extended until 5:00 p.m., New York City time, on July 31, 2024). Mason Capital does not make any recommendations as to whether holders of ADSs or Ordinary Shares should tender or refrain from tendering their ADSs or Ordinary Shares. Holders must make their own decision as to whether to participate in the Tender Offer and, if so, the amount of ADSs or Ordinary Shares to tender or purchase. The Tender Offer is not being made to holders of ADSs or Ordinary Shares in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any new securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful. Capitalized terms used in this press release but not otherwise defined herein have the meanings assigned to them in the Tender Offer Materials.

About Mason Capital

Mason Capital is a global event driven hedge fund founded in July 2000 by Ken Garschina and Mike Martino. Assets under management are $1.37 billion as of December 31, 2023. Mason Capital has an absolute return focus and seeks to generate consistent positive returns in any market environment.