New York, Dec. 9 -- GenNx360 Capital Partners, a leading global private equity firm focusing on middle market opportunities, and GVI Security Solutions, Inc., (OTC: GVSS), a leading provider of video security surveillance solutions featuring the complete Samsung line of products, announced today the official closing of the tender offer by GenNx360's for all of the outstanding shares of common stock of GVI.
Continental Stock Transfer & Trust Company, the Depositary for the tender offer, has advised GenNx360 that, as of the expiration of the offering period at midnight, New York City Time, at the end of the day on Tuesday, December 8, 2009, a total of approximately 26,472,492 shares representing approximately 97.02 percent of the currently outstanding shares had been validly tendered and not withdrawn.
GenNx360 also announced that it has acquired all of the remaining outstanding shares of common stock of GVI by means of a short-form merger under Delaware law. Following the merger, the shares of common stock of GVI will cease to be traded on the OTC Bulletin Board.
Winston & Strawn advised GenNx360 Capital Partners on the transaction. Bradley Vaiana, Bryan Goldstein, James Junewicz, and Kathleen Chastaine led Winston & Strawn's deal team.