17 CFR § 240.14d-11 - Subsequent offering period.
A bidder may elect to provide a subsequent offering period of at least three business days during which tenders will be accepted if:
(a) The initial offering period of at least 20 business days has expired;
(b) The offer is for all outstanding securities of the class that is the subject of the tender offer, and if the bidder is offering security holders a choice of different forms of consideration, there is no ceiling on any form of consideration offered;
(c) The bidder immediately accepts and promptly pays for all securities tendered during the initial offering period;
(d) The bidder announces the results of the tender offer, including the approximate number and percentage of securities deposited to date, no later than 9:00 a.m. Eastern time on the next business day after the expiration date of the initial offering period and immediately begins the subsequent offering period;
(e) The bidder immediately accepts and promptly pays for all securities as they are tendered during the subsequent offering period; and
(f) The bidder offers the same form and amount of consideration to security holders in both the initial and the subsequent offering period.
No withdrawal rights apply during the subsequent offering period in accordance with § 240.14d–7(a)(2).