Altaba Announces Final Results of Tender Offer
June 22 2017 - 8:30AM
Business Wire
Altaba Inc. (“Altaba” or the “Company”) (NASDAQ:AABA) announced
today the final results of its modified “Dutch auction” self tender
offer to purchase up to $3.0 billion of shares of its common stock,
which expired at 11:59 p.m., New York City time, on June 16,
2017.
Based on the final count by Computershare Trust Company, N.A.,
the depositary for the tender offer, a total of 64,514,767 shares
of the Company’s common stock were properly tendered and not
properly withdrawn at or below the final purchase price of $53.20
per share.
In accordance with the terms and conditions of the tender offer,
the Company accepted for payment, at a purchase price of $53.20,
all of the 64,514,767 shares properly tendered at or below the
purchase price and not properly withdrawn before the expiration
date, at an aggregate cost of approximately $3.4 billion, excluding
fees and expenses relating to the tender offer. These shares
represent approximately 6.7% of the Company’s issued and
outstanding shares as of June 20, 2017. The shares accepted
for purchase include 56,390,977 shares for an aggregate purchase
price of up to $3.0 billion and an additional 8,123,790 shares that
the Company has elected to purchase pursuant to its right to
purchase up to an additional 2% of the Company’s issued and
outstanding shares without extending the tender offer.
The Company determined the final purchase price of $53.20 by
multiplying the previously announced “Alibaba VWAP” of $137.1017 by
0.388, which was the lowest multiple within the Company’s specified
range at which shares were tendered or were deemed to have been
tendered in the tender offer that, when multiplied by the “Alibaba
VWAP”, would enable the Company to purchase the maximum number of
shares of the Company’s common stock properly tendered and not
properly withdrawn having an aggregate purchase price not exceeding
$3,000,000,000. The Company has purchased an additional 0.85% of
the Company’s issued and outstanding shares that were tendered at
the final purchase price, pursuant to its right to accept for
payment an additional 2% of the Company’s issued and outstanding
shares without extending the tender offer.
The depositary will promptly pay for the shares accepted for
purchase. After giving effect to the purchase of the shares, the
Company will have outstanding approximately 894,803,145 shares of
common stock.
J.P. Morgan Securities LLC served as dealer manager for the
tender offer, Innisfree M&A Incorporated is serving as
information agent for the tender offer and Computershare Trust
Company, N.A. is serving as depositary for the tender offer. For
more information about the tender offer, please contact Innisfree
M&A Incorporated at (877) 750-9498.
About Altaba Inc.
Altaba Inc. (NASDAQ:AABA) is an independent, publicly traded,
non-diversified, closed-end management investment company
registered under the Investment Company Act of 1940. Altaba’s
mission is to fully realize the funds’ value for stockholders. The
fund’s assets primarily—but not entirely—comprise two visionary
investments made by the Company’s founders: the first a substantial
investment in Alibaba Group Holding Limited, which has become one
of the world’s largest online retailers, and the second in Yahoo
Japan Corporation, now a leading Japanese internet company.
Prior to June 19, 2017, Altaba was known as “Yahoo! Inc.” Altaba
was created after the sale of its operating businesses, at which
time Yahoo! Inc. reorganized as an investment company, was renamed
Altaba Inc., and began trading under the Nasdaq ticker symbol
AABA.
Visit www.altaba.com for more information.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170622005555/en/
Abernathy MacGregorAlan Oshiki, 212-371-5999altaba@abmac.com
Altaba (NASDAQ:AABA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Altaba (NASDAQ:AABA)
Historical Stock Chart
From Jul 2023 to Jul 2024