California First Leasing Corporation Reveals Initial Tender Offer Results for Investors

California First Leasing Corporation Announces Preliminary Results of Tender Offer

California First Leasing Corporation, known as CalFirst Lease, recently disclosed the preliminary outcomes of its tender offer, which aimed to purchase up to 330,000 shares of its common stock. This initiative attracted significant interest, as evidenced by the oversubscription of the offer, demonstrating the company’s robust standing among investors.

On June 25, 2025, the company announced that the tender offer was officially expired as of 5:00 PM New York City time on June 24, 2025. The offer was proposed at a purchase price of $18.50 per share, resulting in an impressive total of 669,285 shares being properly tendered. This overwhelming response underscores a strong investor confidence in CalFirst Lease and its current market strategy.

According to the data provided by Computershare Trust Company, N.A., the designated depositary for the tender offer, the purchase of the shares will proceed on a pro rata basis. Notably, all odd lots that were tendered will be accepted in full. Consequently, CalFirst Lease plans to buy back approximately 330,000 shares of its common stock, reflecting roughly 3.5% of the shares outstanding as of the tender offer’s expiry date.

The financial implications of this transaction are significant, with an estimated total expenditure of approximately $6,105,000, which excludes associated fees and expenses regarding the tender offer. The preliminary proration factor, calculated by the depositary, stands at around 49.3 percent, hinting at the competitive nature of this tender offering.

Shareholders that engaged in the tender offer will soon receive payment for their stocks purchased under the offer, along with the return of any shares that were not accepted due to the pro rata nature of the buyback. It’s essential to highlight that these preliminary numbers are provisional and subject to further confirmation from the depositary. The final share counts are expected to be disclosed following the conclusion of verification processes.

This tender offer is solely for informational purposes and should not be misconstrued as an official solicitation to sell CalFirst Lease shares. The offer was conducted based on the documents filed with the Securities and Exchange Commission (SEC) dated May 20, 2025. Shareholders seeking further clarification about the tender offer are encouraged to reach out to the information agent, Georgeson LLC, at (888) 826-6570. Furthermore, all related materials and documents are accessible for free on the SEC's official website.

Founded as an internally managed closed-end investment company in February 2022, California First Leasing Corporation continues to maintain its leasing operations while seeking to enhance current income through equity and varied investments. The strategic focus on maximizing income along with growth opportunities positions CalFirst Lease as a noteworthy entity in the investment landscape.

Looking ahead, the corporation is preparing for the finalization of share purchases as they await the conclusion of the depositary's verification process. However, potential challenges remain, as some forward-looking statements contain inherent uncertainties, including the company's ability to satisfy the completion conditions of the tender offer or any miscalculations in the proration factor. Investors are reminded to consult the latest filings with the SEC to stay informed about any developments and associated risks.

In conclusion, the preliminary tender offer results reflect a strong response from the market, although the final details will soon be confirmed, providing further insight into the effectiveness of this capital management strategy employed by California First Leasing Corporation.