DGAP-News

ADVA Optical Networking SE: Acorn HoldCo, Inc. reaches minimum acceptance threshold for its public exchange offer to all shareholders of ADVA Optical Networking SE

DGAP-News: ADVA Optical Networking SE / Key word(s): Takeover ADVA Optical Networking SE: Acorn HoldCo, Inc. reaches minimum acceptance threshold for its public exchange offer to all shareholders of ADVA Optical Networking SE 28.01.2022 / 22:45 The issuer is solely responsible for the content of this announcement. ADVA Optical Networking SE: Acorn HoldCo, Inc. reaches minimum acceptance threshold for its public exchange offer to all shareholders of ADVA Optical Networking SE

Munich, Germany. January 28, 2022. ADTRAN, Inc. today announced that by the end of the acceptance period on January 26, 2022, 24:00 hours (local time Frankfurt am Main), the voluntary public takeover offer of Acorn HoldCo, Inc. ("Bidder") to all shareholders of ADVA Optical Networking SE ("ADVA") has been accepted for more than 60% of all ADVA shares entitled to voting rights and existing as of October 31, 2021. The minimum acceptance threshold has therefore been reached. The final result as at the end of the acceptance period is expected to be published on January 31, 2022.

ADTRAN, Inc. and ADVA have thus reached yet another important milestone for the merger of the two companies and have come closer to their goal of creating a leading company in the field of optical transmission technology for enterprise, access and wide-area networks.

The consummation of the public exchange offer continues to be subject to closing conditions not yet fulfilled, especially foreign direct investment approval in Germany.

ADVA shareholders who have not yet tendered their shares can accept the offer within the additional acceptance period. The additional acceptance period will presumably commence on February 1, 2022, and expire on February 14, 2022, 24:00 hours (local time Frankfurt am Main). The bidder has published additional information on the offer on its website https://www.acorn-offer.com.

Disclaimer
This announcement does not constitute an offer to buy or a solicitation of an offer to sell ADVA shares. The closing conditions of the public takeover offer as well as all other terms and conditions of the public takeover offer are contained in the offer document published by Acorn HoldCo, Inc. on November 12, 2021, and in the amendment to the offer document. Investors and security holders of ADVA shares are urged to read the offer document as well as all other documents relating to the offer at https://www.acorn-offer.com, as well as the reasoned statement of ADVA's Management Board and Supervisory Board published on ADVA's website https://www.adva.com because they will contain important information.