Transcontinental Realty extends tender offer deadline to January 2025

In the United States, Transcontinental Realty Investors, Inc. announced on January 15, 2025, that it had extended its limited tender offer to purchase shares of Income Opportunity Realty Investors, Inc. This extension shifts the expiration time to January 29, 2025, at 5:00 PM New York City time. The tender offer was originally set to expire on January 15, 2025, the same day the announcement was made. The offer involves purchasing shares of common stock with a par value of $0.01 for $18 per share, which will be paid in cash, net to the seller, and subject to any required withholding taxes. As of January 13, 2025, only two stockholders of record had tendered their shares. This indicates that the response to the tender offer has been minimal thus far. The press release clarifies that it serves informational purposes only and does not constitute an offer to buy shares or a solicitation to sell them. Transcontinental Realty Investors has filed the offer with the Securities and Exchange Commission (SEC) under the regulations governing tender offers, and the Offer to Purchase is available to shareholders without cost. Investors in Income Opportunity Realty Investors might be weighing their options concerning the tender, given the new deadline. The information provided by Transcontinental Realty suggests expectations for increased participation by stockholders in the offer as the expiration date approaches. However, the limited number of participants so far raises questions about the overall interest in the transaction.