IRVINE, Calif.–(BUSINESS WIRE)–
Incipio, LLC (“Incipio”) today announced that its direct, wholly-owned subsidiary, Powder Merger Sub, Inc. (“Purchaser”), has commenced its previously announced tender offer for all outstanding shares of common stock of Skullcandy, Inc. (SKUL) (“Skullcandy”) at a price of $5.75 per share, net to the seller in cash, without interest and less any required withholding taxes.
The tender offer is being made in connection with the Agreement and Plan of Merger, dated June 23, 2016, by and among Incipio, Purchaser and Skullcandy.
The board of directors of Skullcandy has determined that the offer is fair, advisable and in the best interests of Skullcandy and its stockholders and recommends that the stockholders of Skullcandy accept the offer and tender their shares.
The tender offer is scheduled to expire at midnight EDT at the end of the day on Tuesday, August 2, 2016, unless extended.
Complete terms and conditions of the tender offer can be found in the Offer to Purchase, Letter of Transmittal and other related materials that will be filed by Incipio and Purchaser with the SEC on July 6, 2016. In addition, on July 6, 2016, Skullcandy will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC relating to the offer.
Copies of the Offer to Purchase, Letter of Transmittal and other related materials are available free of charge by contacting Innisfree M&A Incorporated, the information agent for the tender offer, toll-free at (888) 750-5834, and, when they become available, at the website maintained by the SEC at www.sec.gov. American Stock Transfer & Trust Company, LLC is acting as depositary for the tender offer.
About Skullcandy
Skullcandy creates world-class audio experiences through its Skullcandy® and Astro Gaming® brands. Founded at the intersection of music, sports, technology and creative culture, Skullcandy brand creates world-class audio and gaming products for the risk takers, innovators and pioneers who inspire us all to live life at full volume. From new innovations in the science of sound and human potential, to collaborations with up-and-coming musicians and athletes, Skullcandy lives by its mission to inspire life at full volume through forward-thinking technologies and ideas and leading-edge design and materialization. Astro Gaming creates premium video gaming equipment for professional gamers, leagues and gaming enthusiasts. Astro Gaming was founded in the pits of competitive gaming and has become synonymous with pinnacle gaming experiences.
About Incipio
Incipio is a global consumer technology solutions platform operating a diverse portfolio of owned and licensed brands at the intersection of design and functionality. Founded in Southern California in 1999, Incipio’s strategy begins with a passion for building amazing product and a commitment to serve its customers. Incipio’s portfolio of brands offers compelling solutions that meet the needs of today’s active mobile consumers, who demand more out of the products they use. For more information, please visit www.incipiogroup.com.
