Ponos Industries Announces Expiration of its Tender Offer of Common Stock of General Electric Company Without Satisfaction of Tender Conditions

NEW YORK - Sept. 20, 2019 - PRLog -- Ponos Industries LLC ("Purchaser") announces that its previously-announced tender offer (the "Offer") to acquire up to 32,142,587 shares of common stock (the "Shares") of General Electric Company for $13.90 per Share (the "Offer Price") has expired without the conditions of the Offer being met.

The Offer was subject to closing conditions set forth in the Offer to Purchase, dated August 17, 2018, including the closing price of the Shares on the NYSE on the last full trading day prior to the Expiration Date exceeding the Offer Price and Purchaser obtaining financing necessary to fund Purchaser's financial obligations arising from the Offer.

The Offer was scheduled to expire at 5:00 p.m., New York City time, on Friday, September 20, 2019. Purchaser will not accept any tendered Shares for payment. All tendered Shares will be returned promptly to the holders.

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell shares or any other securities.

Ponos Industries LLC is a private investment company that specializes in investing in publicly traded securities whose value it expects to appreciate over a 12-month period.