Life Settlement Liquidity Option, LLC (the “Offeror”) has made a tender offer to purchase up to 150,375,940 PHT units and up to 225,563,910 IRA Partnership units at a price of $0.133 per unit for the PHT and IRA Partnership units. The Offeror has mailed you documents related to the tender offer, including the forms you will need to submit if you wish to participate in the tender offer. You can find another copy of the tender offer on the Investor Relations page as “SC TO-T.”
The PHT and the IRA Partnership are expressing no opinion as to whether any investor should accept or reject the tender offer. In accordance with federal law, the PHT and the IRA Partnership filed a joint statement with the SEC, called a “Schedule 14d-9,” stating that they are expressing no opinion as to whether any investor should accept or reject the tender offer. A copy of the PHT’s and IRA Partnership’s Schedule 14d-9, was included among the Offeror’s documents and is also available on the Investor Relations page as “SC 14D9.”
The Trustee’s role in this situation is to ensure the tender offer complies with the Plan, and to facilitate the transfers of ownership when the tender offer is completed. The Trustee has determined that the tender offer complies with the Plan. He will not, however, express an opinion or make any recommendations to investors regarding how they should respond to the offer.
This tender offer is by Life Settlement Liquidity Option, LLC; not by the PHT or the IRA Partnership. Magna Servicing, the Trustee, the Trust Board and their counsel cannot answer questions about the offer or provide any information regarding it.
It is always a good idea to seek the professional counsel of your attorney, accountant or other financial advisors before taking any action on a tender offer.