OneSpan Inc. Announces Final Results of Tender Offer
December 14 2023 - 4:01PM
Business Wire
OneSpan Inc. (Nasdaq: OSPN) (“OneSpan” or the “Company”) today
announced the final results of its modified “Dutch auction” tender
offer, which expired at 12:00 midnight, at the end of the day, New
York City time, on December 11, 2023.
Based on the final count by Broadridge Corporate Issuer
Solutions, LLC, the depositary for the tender offer, in accordance
with the terms and conditions of the tender offer, the Company has
accepted for payment a total of 2,380,952 shares of the Company’s
common stock, at a final purchase price of $10.50 per share, for an
aggregate cost of approximately $25.0 million, excluding fees and
expenses relating to the tender offer. These shares represent
approximately 6% of the Company’s outstanding common stock as of
November 9, 2023. The Company has been informed by the depositary
that, after giving effect to “Odd-Lot” priority, the final
proration factor for the tender offer is approximately 74%. The
depositary will promptly pay for all shares accepted for
payment.
B. Riley Securities, Inc. acted as the dealer manager for the
tender offer and Broadridge Corporate Issuer Solutions, LLC served
as the information agent.
About OneSpan
OneSpan helps organizations accelerate digital transformations
by enabling secure, compliant, and refreshingly easy customer
agreements and transaction experiences. Organizations requiring
high assurance security, including the integrity of end-users and
the fidelity of transaction records behind every agreement, choose
OneSpan to simplify and secure business processes with their
partners and customers. Trusted by global blue-chip enterprises,
including more than 60% of the world’s largest 100 banks, OneSpan
processes millions of digital agreements and billions of
transactions in 100+ countries annually.
For more information, go to www.onespan.com. You can also follow
@OneSpan on Twitter or visit us on LinkedIn and Facebook.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Any
statements about our expectations, beliefs, plans, predictions,
forecasts, objectives, assumptions or future events or performance
are not historical facts and may be forward-looking. You can
identify forward-looking statements by the use of forward-looking
terminology such as “believes,” “expects,” “could,” “may,” “will,”
“should,” “seeks,” “likely,” “intends,” “plans,” “pro forma,”
“projects,” “estimates” or “anticipates” or the negative of these
words and phrases or similar words or phrases that are predictions
of or indicate future events or trends and that do not relate
solely to historical matters. You can also identify forward-looking
statements by discussions of strategy, plans or intentions.
Forward-looking statements involve numerous risks and uncertainties
and you should not rely on them as predictions of future events.
Forward-looking statements depend on assumptions, data or methods
that may be incorrect or imprecise and we may not be able to
realize them. We do not guarantee that the transactions and events
described will happen as described (or that they will happen at
all). Investors are cautioned that such statements are predictions
and that actual events or results may differ materially. Factors
that could materially affect our business and financial results
include, but are not limited to, the factors described in the
forward-looking statement disclosure and “Risk Factors” section of
our most recent Annual Report on Form 10-K, as updated by the “Risk
Factors” section of our Quarterly Report on Form 10-Q for the
quarter ended September 30, 2023. We do not have any intent, and
disclaim any obligation, to update the forward-looking information
to reflect events that occur, circumstances that exist or changes
in our expectations after the date of this press release, except as
required by law.
Copyright© 2023 OneSpan North America Inc., all rights reserved.
OneSpan™ is a registered or unregistered trademark of OneSpan North
America Inc. or its affiliates in the U.S. and other countries.
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version on businesswire.com: https://www.businesswire.com/news/home/20231214848293/en/
Investor Contact: Joe Maxa Vice President of Investor
Relations +1-312-766-4009 joe.maxa@onespan.com
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