The Bank of New York Mellon Global Corporate Trust reported that $58.9 million in aggregate principal amount of outstanding notes had been validly tendered for purchase as of 5:00 P.M. Eastern on July 31. As a result and pursuant to the terms of the tender offer, the ExpressJet will issue 161,494,295 shares of common stock in payment of the repurchase price for the principal amount of the notes tendered and to settle accrued and unpaid interest due August 1. The company’s offer of its tender offer with respect to $128.2 million aggregate principal amount of its 4.25 percent Convertible Notes Due 2023, expired July 31.
Following the completion of the tender offer, the company will have $69.3 million aggregate principal of its 4.25 percent Convertible Notes due 2023 remaining outstanding. Note holders of record on August 2, 2008, will automatically receive the benefits of the supplemental indenture that becomes effective the same day. From August 2 forward, the notes will be referred to as 11.25 percent Convertible Notes due 2023.