SOURCE: AB Value Management LLC

January 27, 2012 09:11 ET

AB Value Partners, L.P. and AB Opportunity Fund, LLC Amend Offer to Purchase up to 230,000 Shares of Common Stock of ELXSI Corporation, Increasing the Offer Price to $3.50 per Share

FREEHOLD, NJ--(Marketwire - Jan 27, 2012) - AB Value Partners, L.P. and AB Opportunity Fund, LLC, private funds whose assets are managed by AB Value Management LLC, announced today that they are amending their offer to purchase for up to 230,000 shares of ELXSI Corporation ("ELXSI"), which shares are traded on the over-the-counter market on the Pink Sheets, at an offer price of $3.50 per share. The Offer Price has been increased from $2.50 to $3.50 a share, a 40% increase over the prior Offer Price and an approximate 48.9% premium over the last reported sales price of common shares as of December 13, 2011, the day prior to the original offer. Additionally, the Offer to Purchase is now scheduled to expire at 5:00 p.m., New York City time, on February 10, 2012. At the close of business on January 26, 2011, a total of approximately 741 shares of common stock of ELXSI, have been tendered and not withdrawn pursuant to the tender offer.

Additional Information

This press release is neither an offer to purchase nor a solicitation of an offer to sell ELXSI's common stock. The solicitation and offer to purchase ELXSI's common stock has been made pursuant to a formal offer to purchase and letter of transmittal. ELXSI's stockholders should read the offer to purchase and other related documents carefully since they contain important information, including the terms and conditions of the offer. Shareholders of ELXSI will be able to obtain a free copy of the Offer to Purchase, related Letter of Transmittal and other Offer documents by contacting InvestorCom, Inc. (the "Information Agent"), by email at info@investor-com.com or telephone at (203) 972-9300.

Contact Information

  • Contact:
    InvestorCom, Inc.
    65 Locust Avenue
    Third Floor
    New Canaan, CT 06840
    Phone (203) 972-9300
    Toll Free (877) 972-0090
    Email: Email Contact