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TechTarget Inc Announces Commencement of Tender Offer To Repurchase Up To 6,500,000 Shares


Wednesday, 25 Sep 2013 07:45am EDT 

TechTarget, Inc announced that it has commenced a tender offer to purchase up to 6,500,000 shares of its common stock at a price of $5.00 per share. The number of shares proposed to be purchased in the tender offer represents approximately 16.79% of the approximately 38,724,720 million shares of TechTarget's common stock issued and outstanding as of September 19, 2013. The last reported sale price of TechTarget's common stock on September 23, 2013 was $4.79 per share. The tender offer will expire on October 24, 2013, unless extended by TechTarget. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the Offer to Purchase that is being distributed to stockholders. On the terms and subject to the conditions of the tender offer, TechTarget's stockholders will have the opportunity to tender some or all of their shares at a price of $5.00 per share. If stockholders properly tender and do not properly withdraw more than 6,500,000 shares, TechTarget will purchase shares tendered by those stockholders owning fewer than 100 shares, without pro ration, and all other shares tendered will be purchased on a pro rata basis, subject to the conditional tender offer provisions described in the Offer to Purchase that is being distributed to stockholders. 

Company Quote

8.12
0.12 +1.50%
23 Jul 2014