PANews reports on April 25th that, according to official sources, Tether Investments, a subsidiary of Tether Group, announced the results of its tender offer for Adecoagro S.A. common shares. The tender offer to purchase up to 49,596,510 common shares with a par value of $1.50 at a cash price of $12.41 per share expired at midnight 12:00 New York time on April 24, 2025. The depositary, Computershare Trust Company, NA, has informed Tether that a total of 67,075,545 common shares were validly submitted by the offer's expiration. Previously, Tether and Adecoagro announced a Transaction Agreement on March 27, 2025, which was unanimously approved by Adecoagro's board of directors. According to the agreement, Tether will acquire up to 70% of Adecoagro's outstanding common shares through a tender offer to gain controlling interest. Tether will accept and purchase 49,596,510 common shares based on valid submissions at the offer's expiration. Since the tender subscription exceeded the planned acquisition quantity, Tether needs to allocate shares proportionally before final confirmation. Specifically, Tether will purchase shares based on a certain proportion of each depositing shareholder's valid share submission, with fractional shares rounded off. Calculations show that the proportional allocation coefficient is approximately 73.9%. Tether will instruct the depositary to pay the acquisition consideration to all accepted depositing shareholders as soon as possible and simultaneously return the common shares not purchased due to proportional allocation to the corresponding depositing shareholders.
