MCI Capital, LC (“MCI”), a wholly owned subsidiary of MCI, LC,
announced today the preliminary results of its previously announced
cash tender offer to purchase up to 4,000,000 shares of common
stock of StarTek, Inc. (NYSE:SRT) (“StarTek”) at a purchase price
of $4.20 per share, which expired at 5:00 p.m., New York City time,
on January 4, 2023.
Based on the preliminary count by the depositary
for the offer, 2,940,646 shares were validly tendered and not
validly withdrawn, including 9,700 Shares that were tendered by
notice of guaranteed delivery. The number of shares validly
tendered and not validly withdrawn pursuant to the tender offer
satisfied the minimum tender condition, and all other conditions to
the offer were satisfied or waived.
In accordance with the terms and conditions of the
offer and based on the preliminary count by the depositary, MCI
expects to accept for payment, at a purchase price of $4.20 per
share, all the shares that were validly tendered and not validly
withdrawn. The total of 2,940,646 shares that MCI expects to accept
for purchase represents approximately 7.3% of StarTek’s outstanding
shares of common stock as of October 31, 2022.
The number of shares expected to be purchased in
the offer is based on the depositary’s preliminary count and the
assumption that all shares tendered by notice of guaranteed
delivery will be delivered within the required two-trading-day
period, and is subject to change. The final number of shares to be
purchased will be announced following the expiration of the
guaranteed delivery period and completion by the depositary of its
confirmation process. Payment for shares accepted for purchase
under the offer will occur promptly thereafter.
Questions regarding the offer and requests for
assistance in connection with the offer may be directed to
MacKenzie Partners, Inc. (the information agent and depositary for
the offer) by contacting them at (800) 322-2885 or
tenderoffer@mackenziepartners.com.
About MCI: MCI, LC is a holding
company for multiple operating companies that provide a diverse set
of tech-enabled business process outsourcing (BPO) and customer
experience (CX) technology services. MCI Capital, LC is a
wholly-owned subsidiary of MCI, LC.
Driving modernization through digitalization, MCI
ensures clients do more for less. MCI organically grows, acquires
and operates companies that have synergistic products and services
portfolios, including but not limited to Automated Contact Center
Solutions (ACCS), customer contact management, IT Services (IT
Schedule 70), Cloud Hosting, Temporary and Administrative
Professional Staffing (TAPS Schedule 736), Business Process
Management (BPM), Business Process Outsourcing (BPO), Claims
Processing, Collections, Customer Experience Provider (CXP),
Customer Service, Digital Experience Provider (DXP), Account
Receivables Management (ARM), Application Software Development,
Managed Services, Voice Over Internet Protocol (VoIP), and
Technology Services, to mid-market, Federal & enterprise
partners.
MCI now employs almost 5,000 talented individuals
with 300+ diverse Global client partners across the following MCI
brands: GravisApps, Gravis Marketing, Mass Markets, MCI BPO, MCI
Federal Services (MFS), Teletechnology, The Sydney Call Center,
OnBrand24, and Valor Intelligent Processing (VIP).
MCI and its subsidiaries had previously made Inc.
Magazine's List of Fastest-Growing Companies 18 times,
respectively.
MCI has customer contact management centers, IT
services, and business process outsourcing service delivery in the
USA, Canada, Asia, Mexico, and Central America. MCI provides
products and services under the following NAICS Codes: 511210
Software Publishers, 518210 Data Processing, Hosting, and Related
Services, 519190 All Other Information Services, 524291 Claims
Adjusting, 541511 Custom Computer Programming Services, 541512
Computer Systems Design Services, 541519 Other Computer Related
Services, 541519 Information Technology and Value Added Resellers,
541611 Administrative Management and General Management Consulting
Services, 541613 Marketing Consulting Services, 541690 Other
Scientific and Technical Consulting Services, 541990 All Other
Professional, Scientific, and Technical Services, 561110 Office
Administrative Services, 561320 Temporary Help Services, 561330
Professional Employer Organizations, 561421 Telephone Answering
Services, 561422 Telemarketing Bureaus and Other Contact Centers,
561431 Private Mail Centers, 561440 Collection Agencies, 561499 All
Other Business Support Services, 561990 All Other Support Services,
611430 Professional and Management Development Training. Find out
more at www.mci.world
This press release contains forward-looking
statements based on current expectations that involve a number of
risks and uncertainties. The forward-looking statements in this
press release are also forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Actual results,
performance, or achievements could differ materially from those
contemplated, expressed, or implied by the forward-looking
statements contained herein. Risks and uncertainties include, but
are not limited to, those relating to the tender offer described in
this press release and risks relating to the market price and
liquidity of StarTek’s common stock. Reference is also made to the
risks and uncertainties relating to the business, operations,
affairs, results, and financial condition of StarTek detailed in
reports filed by StarTek with the SEC, including its Annual Report
on Form 10-K for the year ended December 31, 2021 (including the
“Risk Factors” section thereof), which may be viewed on the SEC's
website at www.sec.gov. MCI cautions that the foregoing
factors are not exclusive. Readers should not place undue reliance
on any forward-looking statement, which speaks only as of the date
made. In addition, past performance may not be indicative of future
results.
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