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GlobeNewswire·

Dover Announces Upsize of Its Tender Cap and Extension of Expiration Date of Previously Announced Offer to Purchase for Cash Certain of Its Outstanding Debt Securities

DOV
  • Dover amended its cash tender offers to increase the aggregate purchase price cap from $230 million to $300 million.
  • The expiration date for the tender offers has been extended to 5:00 p.m. New York City time on November 5, 2026.
  • The price determination date is set for 3:00 p.m. New York City time on November 5, 2026.
  • The settlement date for accepted tenders is expected to be November 9, 2026.
  • The tender offers target four series of notes: 6.650% Debentures due 2028, 6.600% Notes due 2038, 5.375% Debentures due 2035, & 5.375% Notes due 2041.
  • Acceptance priority is assigned in four levels, with the 2028 Debentures holding the highest priority (Level 1) & the 2041 Notes holding the lowest (Level 4).
  • As of October 30, 2026, tender percentages ranged from approximately 28.86% for the 2028 Debentures to 39.78% for the 2035 Debentures.
  • Total consideration per $1,000 of principal will be based on a fixed spread plus a reference yield calculated on the price determination date.
  • A financing condition requires Dover to complete a new senior unsecured notes offering by November 2, 2026, to generate proceeds sufficient to repay maturing €600 million notes.
  • Deutsche Bank, HSBC, & J.P. Morgan serve as dealer managers, while D.F. King & Co. acts as the tender & information agent.
  • Holders may withdraw valid tenders at any time prior to 5:00 p.m. New York City time on November 5, 2026.