Bluegreen Vacations Holding Corporation Announces Intention to Launch Cash Tender Offer for Its Class A Common Stock


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BOCA RATON, Fla.–(BUSINESS WIRE)–Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (the “Company”) today announced its intention to initiate a cash tender offer for purchase up to 4,500,000 shares of its Class A common stock at a purchase price of $22.17 per share, representing a 30% premium to the closing price of the Corporation’s Class A common stock. $17.05 on November 2, 2022. If the tender offer is initiated and completed, the total purchase price of the shares proposed for purchase would be $99,765,000. If more than 4,500,000 shares are tendered to the tender offer, then, subject to the terms and conditions of the tender offer, the Company will purchase shares from shareholders who have duly tendered shares on a pro rata basis. the total number of shares tendered.

The terms and conditions of the tender offer will be described in an offer to purchase and related cover letter which will be mailed to shareholders of the Company shortly after the commencement of the tender offer. The tender offer will be subject to certain conditions described in the tender offer. The Company currently expects to launch the tender offer within five business days. The tender offer will be open for at least twenty business days after its launch. To be valid, share offers must be made prior to the expiration of the tender offer period and otherwise in accordance with the share offer instructions which will be set forth in the offer to purchase and the letter related shipment.

Neither the Company nor its Board of Directors, the Public Offer Information Agent or the Public Offer Custodian will make any recommendation to shareholders as to whether to tender or refrain from tender their shares to the public offering. Shareholders must decide for themselves how many shares they will contribute, if any.

Important information about the tender offer

The Company has not yet launched the tender offer referred to in this press release. This press release does not constitute an offer to buy or a solicitation of an offer to sell any securities. This press release is for informational purposes only. The offer to purchase the Class A common shares of the Company and the solicitation of the shares will be made only pursuant to the offer to purchase and related letter of transmittal, which are expected to be mailed to the Company’s shareholders shortly after the start of the tender offer. The shareholders of the Company are invited to carefully read these documents and the documents incorporated therein by reference when they become available, as they will contain important information, in particular the various terms and conditions of the public tender offer. If the tender offer is commenced, the Company will also file a tender offer statement on Schedule TO (the “Tender Offer Statement”) with the Securities and Exchange Commission ( the “SEC”), which will include as exhibits, among other things, the offer to purchase, the cover letter and the related offer documents. The Tender Offer Statement, including the Offer to Purchase, Letter of Transmittal and Tender Offer Materials, will be available free of charge on the SEC’s website at at www.sec.gov and on the Company’s website at www.bvhcorp.com. The Company’s other public filings with the SEC, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, are also available free of charge at the Website. of the SEC at www.sec.gov and on the Company’s website at www.bvhcorp.com. When available, shareholders of the Company may also obtain the offer to purchase, cover letter and other related documents in connection with the tender offer by contacting Laurel Hill Advisory Group, LLC, the information agent for the tender offer, toll-free at (888) 742-1305. The shareholders of the Company are invited to read these documents carefully before making any decision concerning the public tender offer.

About Bluegreen Vacations Holding Corporation:

Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based vacation ownership plan with 70 Club and Club Associate Resorts and access to nearly 11,300 other hotels and resorts through partnerships and exchange networks. The Company also offers a portfolio of comprehensive fee-based resort management, finance, sales and marketing services to or on behalf of third parties.

For more information, visit:

Bluegreen Vacations Holding Corporation: www.bvhcorp.com

This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The forward-looking statements contained in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. The risks and uncertainties include, but are not limited to, those relating to the contemplated tender offer described in this press release, including that the Company may decide not to proceed with the offer. tender offer if events or circumstances occur which, in the discretion of the Company, make it inadvisable to proceed with the public offer, uncertainty as to the timing of the public offer, that, if the public offer is launched , the closing conditions of the public offering may not be satisfied or, to the extent permitted by applicable law, may be waived by the Board of Directors of the Company at its sole discretion, uncertainties as to the number of shares that will be tendered and purchased pursuant to the tender offer, and the risks relating to the price and liquidity of the Company’s Class A common shares. Reference is also made to the risks and uncertainties relating to the Company’s business, operations, affairs, plans, strategy, results and financial condition detailed in the Company’s filings with the SEC. , including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (including the “Risk Factors” section thereof) and Quarterly Report on Form 10-Q for the quarter ended December 30, 2021. September 2022, each of which may be viewed on the SEC’s website at www.sec.gov and on the Company’s website at www.bvhcorp.com. The Company cautions that the above factors are not mutually exclusive. Readers should not place undue reliance on forward-looking statements, which speak only as of the date made. In addition, past performance may not be indicative of future results.

Bluegreen Vacations Holding Corporation Contact Information:

Investor Relations: Leo Hinkley, Managing Director, Head of Investor Relations

Phone: 954-399-7193

E-mail: [email protected]

Source: Bluegreen Vacations Holding Corporation

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