Furlong Fund, LLC made an offer to acquire a 41.75% stake in Dynacq Healthcare Inc. for $0.18 million.
Furlong Fund, LLC made an amended offer to acquire a 9.41% stake in Dynacq Healthcare Inc. (OTCPK:DYII) for $0.04 million in cash on February 28, 2014. Furlong Fund intends to acquire a maximum of 1.36 million Dynacq shares at $0.03 per share. The Board of Directors of Dynacq is expressing no opinion to Dynacq's stockholders and is remaining neutral with respect to the Offer. On March 17, 2014, Furlong Fund, LLC and Dynacq Healthcare executed a standstill agreement. On March 20, 2014, Furlong Fund, LLC extended the offer until April 11, 2014. As of March 18, 2014, 6116 shares have been tendered and not withdrawn.
Alliance Advisors, LLC acted as information agent and while Transfer Online, Inc. acted as depository for Furlong Fund. Eric M. Andersen of Mark Andersen, P.A acted as legal advisor to Furlong Fund, LLC. Robert D. Axelrod of Axelrod, Smith & Kirshbaum acted as legal advisor to Dynacq Healthcare, Inc. Furlong Financial, LLC is the investment advisor of Furlong Fund, LLC.