NEW YORK, May 1 /PRNewswire/ -- RWD Acquisition I LLC ("RWD") announced
today that it has commenced a cash tender offer to purchase up to 4,000,000
of the outstanding shares of Pharmacyclics, Inc. (Nasdaq: PCYC)
("Pharmacyclics") for $1.05 per share. Robert W. Duggan, who is the sole
member of RWD, beneficially owns an aggregate of 4,371,379 shares, or
approximately 16.8% of the common stock of Pharmacyclics.
The offer is currently scheduled to expire at 12:00 midnight, New York
City time, on Friday, May 30, 2008, unless the offer is extended.
The tender offer is subject to customary conditions such as absence of
a suspension in trading or a material change at Pharmacyclics. The tender
offer is not conditioned on the availability of financing.
MacKenzie Partners, Inc. is the Information Agent for the tender offer
and any questions or requests for the Offer to Purchase and related
materials with respect to the tender offer may be directed to MacKenzie
Partners, Inc.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN
OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES. THE
SOLICITATION AND THE OFFER TO BUY PHARMACYCLICS'S COMMON STOCK IS ONLY
BEING MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED MATERIALS THAT RWD
WILL FILE WITH THE SECURITIES AND EXCHANGE COMMISSION. STOCKHOLDERS SHOULD
READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION,
INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. STOCKHOLDERS WILL BE ABLE
TO OBTAIN THE OFFER TO PURCHASE AND RELATED MATERIALS WITH RESPECT TO THE
TENDER OFFER FREE AT THE SEC'S WEBSITE AT http://WWW.SEC.GOV OR FROM RWD BY
CONTACTING MACKENZIE PARTNERS, INC. TOLL-FREE AT (800) 322-2885 OR COLLECT
AT (212) 929-5500 OR VIA EMAIL AT TENDEROFFER@MACKENZIEPARTNERS.COM.
Any forward-looking statements contained in this release are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently subject to a
variety of risks and uncertainties that could cause actual results to
differ materially from those projected. These risks and uncertainties
include, among others: the willingness of Pharmacyclics stockholders to
tender their shares in the tender offer and the number and timing of shares
tendered; the receipt of third party consents to the extent required for
the acquisition; and satisfaction of the various closing conditions. Other
important factors that could cause actual results to differ materially are
included but are not limited to those listed in Pharmacyclics's periodic
reports and registration statements filed with the Securities and Exchange
Commission. RWD undertakes no obligation to update information contained in
this release.
SOURCE RWD Acquisition I LLC
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CONTACT:
Jeanne Carr or Dan Sullivan, both of
MacKenzie Partners, Inc., +1-212-929-5500, for RWD Acquisition I
LLC; or Mackenzie Partners, Inc., Toll-Free, +1-800-322-2885, Or
Collect, +1-212-929-5500, Tenderoffer@Mackenziepartners.com
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