Värde Partners, Inc. on behalf of certain of its affiliated private funds and investment vehicles, made an offer to acquire remaining stake in 46.3% stake in Lilis Energy, Inc. (AMEX:LLEX) for $10.6 million on January 10, 2020. Under the terms of the deal, Värde Partners made a non-binding offer to acquire all the outstanding shares of common stock of Lilis not already owned by Värde and its affiliates at an offer per share of $0.25. The transaction is subject to confirmatory due diligence and the negotiation and execution of a definitive agreement containing terms and conditions customary for a transaction, regulatory and third party approvals, recommendation of the Special Committee and final approval by the Board and the Värde Investment Committee, approval by the requisite Lilis shareholders. The offer is subject to obtaining financing. Offer will expire on February 17, 2020. As of February 17, 2020, expiration offer date has extended from February 17, 2020 to February 27, 2020. As of February 28, 2020, expiration offer date has extended from February 27, 2020 to March 18, 2020. Barclays Capital Inc. acted as financial advisor to special committee of the board of directors of Lilis Energy, Inc.